BAKU, Azerbaijan, Aug.24
By Zeyni Jafarov - Trend:
The dynamics in the money supply in Azerbaijan have been volatile during the first half of 2021, Trend reports referring to the review of the monetary policy of the CBA (Central Bank of Azerbaijan).
According to the review, in the reporting period, the monetary base in the national currency manat increased by 1.8 percent and by the end of the period amounted to 13.8 billion manat ($8.1 billion). The volume of cash in circulation (M0), which is a structural element of the monetary base of the national currency, edged down by 0.8 percent, while the balance of correspondent accounts in manat rose by 19.7 percent.
As the review showed, for the first six months of 2021 the broad money supply (M3) has increased by 3.8 percent, reaching 30.3 billion manat ($17.8 billion), and the money supply in the national currency (M2) - by 5.8 percent, up to 21.5 billion manat ($12.6 billion).
As of July 1, 2021, the CBA’s foreign exchange reserves made up over $6.4 billion, and its monetary base – 13.8 billion manat ($8.1 billion).
(1 USD = 1.7 AZN on Aug.24)
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