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Azerbaijan sees money base decline

Azerbaijan sees money base decline

08 December 2009 10:33 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-ECONOMICS. As of December 1, the national currency (manat) monetary base stood AZN 4 337.1 million, down 9.3% or AZN 444.2 million from early this year, said the Central Bank of Azerbaijan.

However, money stock increased by 3% or AZN 124.6 million from a year ago.

The monetary base declined four consecutive months during 2009 but started to increase after May 2009. Monetary base decreased in January-April, increased in May-August, decreased in September and increased in October and November.

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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