Azerbaijan, Baku, May 5 / Trend A. Akhundov /
As of March 1, the expanded monetary base amounted to 7.908.7 billion manat in Azerbaijan, a statistical report of the Azerbaijani Central Bank (CBA) said on Saturday.
According to the CBA, the monetary base increased by 29.2 per cent per year, but declined by 6.8 per cent compared to early 2012.
As of March 1, 2012 the monetary base in manat was 7.825.2 billion manat compared to 6.099.5 billion manat as of March 1, 2011 and 8.275.3 billion manat as of January 1, 2012.
In the reporting period, the volume of currency in circulation amounted to 7.323.9 billion manat.
As of March 1, 2011 this figure amounted to 5.685.1 billion manat, and as of January 1, 2012 7.658.5 billion manat.
The bank reserves hit 571.9 million manat, or 32.6 per cent more than in January-February 2011 (431.4 million manat), but 30.8 per cent less than the same figure as of early 2012 (826.4 million manat).
The ratio between the cash in circulation and monetary base for the reporting period hit 92.6 per cent compared to 92.9 per cent as of March 1, 2011, and 90.2 per cent as of January 1, 2012.
The official exchange rate is 0,786 AZN/USD on May 5.