BAKU, Azerbaijan, May 12
By Eldar Janashvili - Trend:
The foreign exchange reserves of the Central Bank of Azerbaijan (CBA) amounted to $6.4 billion as of May 1, 2020, Trend reports citing statistics from the CBA on May 12.
Since the beginning of 2020, the CBA’s foreign exchange reserves increased by 3.2 percent (from $6.2 billion). On an annualized basis, the growth of foreign exchange reserves amounted to 10.6 percent (from $5.7 billion).
During Apr. 2020, CBA's foreign exchange reserves increased by $8 million.
The money supply amounted to 10.1 billion manat ($5.9 billion) as of May 1, 2020, which is 17 percent less compared to the end of 2019. On an annualized basis, money supply growth amounted to 26 percent.
Earlier this year CBA said that the money supply rate (M2 - cash in circulation outside banks) in Azerbaijan amounted to 16.4 billion manat ($9.6 billion) as of late March 2020, which is 15 percent more compared to the same period of 2019.
According to the CBA’s bulletin, the amount of Cash Money Supply (M0) increased by 13.2 percent to 8.5 billion manat ($5 billion), Broad Money Supply (M3) increased by 10.4 percent up to 26.7 billion manat ($15.7 billion), and Transaction money (M1) increased by 18 percent, up to 13.8 billion manat ($8.1 billion).
(1 USD = 1.7 manat on May 12)
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