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Azerbaijan sees 29% rise in money supply

29 December 2012 11:14 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. As of November 1, 2012, M3 money supply made AZN 15,606.6 mln, up AZN 2,954.4 mln or 23.4% from previous year.

Central Bank of Azerbaijan says money supply rose AZN 1,703.4 mln or 12.3% in January-October.

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

M2 Board of money supply rose AZN 2,815.0 mln or 28.9% to AZN 12,563.6 mln in comparison to a year earlier.

(mln. manat)

	01.11.2011	01.01.2012	01.11.2012
M0 (cash)	6,505.3	7,158.2	8,415.5
M1 (cash, demand deposits)	7,835.8	8,824.8	10,096.2
M2 (cash, demand and manat term deposits)	9,748.6	10,997.2	12,563.6
M3 (cash, demand and term deposits)	12,652.2	13,903.2	15,606.6

Extension of manat money supply was caused by cash growth. So, annual growth of cash made AZN 1,910.2 mln, which is equal to 68% of total manat supply. At the same time, cashing level increased compared with a year ago. So, as of November 1, share of cash in manat money supply was 67.0%, up 0.3 percentage point from previous year.