Finance

Finance

Azerbaijan sees money supply on decline

11 November 2009 15:30 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of October 1, M3 broad money reached AZN 7 458 million, down 12.2% from early this year, said the Central Bank of Azerbaijan.

M3 money supply declined 1.5% in September alone and 2.5% from a year ago.

The following table describes the trend in money supplies.

(mln. manat)

	01.10.2008	01.01.2009	01.09.2009	01.10.2009
M0 (total cash)	3 632,3	4 145,7	3 651,9	3 620,1
M1 (assets that can be used to pay for a good or service or to repay debt)	4 619,3	5 145,0	4 550,3	4 449,2
M2 (total cash in circulation outside banks (M0), the amount in demand accounts, current accounts, term deposits in national currency)	5 514,5	6 081,0	5 333,5	5 222,4
M3 (M2 plus large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets)	7 649,7	8 494,2	7 569,1	7 458,4