Azerbaijan notably raises money supply in national currency

BAKU, Azerbaijan, May 24. Azerbaijan's Money Supply Rate (M2) increased by 4.07 billion manat ($2.4 billion), or 13.51 percent, as of May 1, 2024, compared to the same period last year (from 30.18 billion manat, or $17.75 billion, to 34.26 billion manat, or $20.15 billion), Trend reports.

Data from the Central Bank of Azerbaijan (CBA) shows that the cash supply in circulation (M0) increased by 1.39 billion manat, or $820 million (10.01 percent), from 13.9 billion manat ($8.18 billion) to 15.29 billion manat ($9 billion), and the broad money supply (M3) increased by 4.09 billion manat, or $2.4 billion (9.96 percent), to 45.27 billion manat ($26.6 billion).

Annual transaction money (M1) increased by 2.59 billion manat, or 1.5 billion (10.09 percent), from 25.7 billion manat ($15 billion) to 28.3 billion manat ($16.6 billion).

Azerbaijan's money market parameters:

To note, as of January 1, 2024, the M3 indicator amounted to 45.07 billion manat ($26.5 billion), M2 - 34.2 billion manat ($20 billion), M1 - 29.67 billion manat ($17.4 billion), and M0 - 13.8 billion manat ($8 billion).