Azerbaijan sees money base increase

Azerbaijan sees money base increase
# 09 September 2009 11:08 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of September 1, the national currency (manat) monetary base stood AZN 4 172 million, up 3.1% or AZN 125.3 million from a year ago, said the Central Bank of Azerbaijan.

However, manat money stock declined by 12.7% or AZN 609.3 million during January-August this year.

The monetary base declined four consecutive months during 2008 but started to increase after May 2009.
The monetary base (i.e. the reserve money) includes currency in circulation and reserves which commercial banks hold in their accounts with the central bank.
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