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Azerbaijan sees 29% rise in money supply

16 November 2012 13:56 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of October 1, 2012, M3 money supply made AZN 15,343.3 mln, up AZN 2,691.1 mln or 21.3% from previous year.

Central Bank of Azerbaijan says money supply rose AZN 1,440.1 mln or 10.4% in January-September.

Note that M3 Board includes cash out of banks, demand and term deposits.

M2 Board of money supply rose AZN 2,772.1 mln or 28.8% to AZN 12,402.4 mln in comparison to a year earlier.

(mln. manat)

	01.10.2011	01.01.2012	01.10.2012
M0 (cash)	6,465.9	7,158.2	8,315.4
M1 (cash, demand deposits)	7,809.7	8,824.8	10,053.6
M2 (cash, demand and manat term deposits)	9,630.3	10,997.2	12,402.4
M3 (cash, demand and term deposits)	12,652.2	13,903.2	15,343.3

Extension of manat money supply was caused by cash growth. SO, annual growth of cash stood at AZN 1,849.5 mln, which is equal to 67% of total manat supply. At the same time, cashing level decreased compared with a year ago. So, as of October 1, share of cash in manat money supply was 67.0%, down 0.1 percentage point from previous year.