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Depositors in Azerbaijan prefer national currency

Depositors in Azerbaijan prefer national currency

10 January 2012 09:53 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of December 1, 2011, AZN 1.970 bln or 51.4% of deposits in Azerbaijan-based commercial banks are in manat. Central Bank of Azerbaijan says the volume of deposits rose 52% year-on-year, up 18.5 percentage points from total deposits (AZN 3.830 bln).

Consequently, manat deposits rose 6.2 percentage points compared to December 1, 2010. Note that, share of manat deposits was 41.4% in 2010, 46.5% - in 2011.

Thus, this fact indicates that population prefer deposits in manta. This was caused by stability of manta, strategic reserves of the country and assurance about continuation of this stability.

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