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Azerbaijan sees money base up in 2009

Azerbaijan sees money base up in 2009

11 January 2010 12:03 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-ECONOMICS. As of January 1, the national currency (manat) monetary base stood AZN 4 861 million, up 1.7% or AZN 79.7 million from a year ago, said the Central Bank of Azerbaijan.

Also, money stock increased by 12% or AZN 523.9 million in December 2009 alone.

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, November and December.

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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