Bank Of Baku

Azerbaijan sees 33% growth in monetary base

Azerbaijan sees 33% growth in monetary base
# 05 September 2011 10:16 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of September 1, 2011, the national currency (manat) monetary base stood AZN 7,119.3 mln, up 32.5% or 1,745.8 mln compared to previous year, told the Central Bank of Azerbaijan.

The monetary base increased by 11.3% or AZN 722.2 mln from the beginning of the current year, as well as this growth made AZN 261.2 mln or 3.8% in August.

Note that, the monetary base includes currency in circulation and reserves which commercial banks hold in their accounts with the central bank.
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