Money base expands 3% in Azerbaijan

Money base expands 3% in Azerbaijan
# 02 December 2008 15:47 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of December 1, the monetary base stood at AZN 4 212.5 million, said the National Bank of Azerbaijan, up 61.2% on a year ago and up 30.8% on early this year.
The central bank said the money base expanded 3.2% or AZN 130.5 million in November.
The monetary base or money base comprises only currency (banknotes and coins) and commercial banks’ reserves with the central bank. As such, it is a narrow definition of money supply, consisting of only the most liquid forms of money.
The average monthly growth in money base was AZN 90.15 million this year, up 1.5 times on the growth rate in November.
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