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Azerbaijan sees money base decline

Azerbaijan sees money base decline

05 October 2009 14:39 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of October 1, the national currency (manat) monetary base stood AZN 4 170.4 million, down 0.5% or AZN 2.2 million from a year ago, said the Central Bank of Azerbaijan.

At the same time, manat money stock declined by 12.8% or AZN 610.9 million during January-September this year.

The monetary base declined four consecutive months during 2008 but started to increase after May 2009 to September 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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