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Capital adequacy indicators in Azerbaijanâ€™s banking system makes 16.8%

30 December 2010 15:01 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Central Bank of Azerbaijan has conducted its monetary policy at the condition of extending of suggestion channels at currency market and conducted foreign currency purchasing more than $ 1 bln, CBAâ€™s statement on monetary Policy for 2011 reports.

According to statement, the rate of manatâ€™s against dollar strengthened by 0.4%. Real effective rate on non-oil sector remained neutral, on near foreign countries decreased and this influenced on competitive ability.

CBA continued soft monetary policy in 2010. But decisions on neutrality of monetary policy were adopted. Until end of October, CBA did not change monetary policy. Accounting arte stood at 2%, mandatory reserve rate at 0.5%.Money supply in manat rose 20.2%. This influenced on interest rate to decrease. CBA adopted decision on increase of accounting rate to 3%. Mandatory reserve rate for banksâ€™ foreign liabilities was determined as 0.5%.

Azerbaijanâ€™s banking system kept its financial stability. Overdue credits made 5%.