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National Bank of Azerbaijanâ€™s reserve money drops

National Bank of Azerbaijanâ€™s reserve money drops

26 February 2009 16:14 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of February 1, the National Bank of Azerbaijan posted its monetary base (manat money in reserve) stood at AZN 4 300.2 million, up 48.5% on a year ago.
According to the central bank, the reserve money dropped by 10.1% or AZN 481.1 million from January 1.
The monetary base or money base comprises only currency (banknotes and coins) and commercial banksâ€™ 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 decline in the monetary base is linked to the central bankâ€™s decision to slash mandatory reserve requirements for commercial banks in late 2008.

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