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Azerbaijn sees 61% rise in money supply

11 November 2008 09:02 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of October 1, M2 money supply reached AZN 5 514.5 million, up 34.6% on earlier this year and 61.2% on a year earlier, said the National Bank of Azerbaijan.
M2 money supply includes total cash in circulation (outside banks) (M0), the amount in demand accounts, current accounts, term deposits in national currency.
Cash money supply which means cash outside the central bank (M0) made AZN 3 332.3 million, accounting for 65.9% of M2 money supply. This indicator was 61.6% in early this year and 60% in October last year.
That is to say the share of cash money supply is growing.

However, this percentage was 83% in 2000.
M3 money supply includes M2 plus bank deposits in hard currency. As of October 1, M3 broad money stood at AZN 7 649.7 million, up 29.7% on earlier this year and 54.4% on a year earlier.