M2 monetary aggregate grew by 3% in Azerbaijan

Baku. 16 June. REPORT.AZ/ The broad money supply (M2) amounted to 9, 2058 mln AZN as of May 1, 2016.

Report informs referring to the Central Bank of Azerbaijan (CBA), M2 aggregate increased by 1 262.8 mln AZN or by 2.9% compared with the same period of April.

Volume of broad money supply decreased by 1 798,2 mln AZN or 16.3% compared to the same period last year.

Generally, the M2 aggregate record level have been recorded in November 2014 (17 525,2 mln. AZN), the minimum level for the first devaluation in January 2016 amounted to (8 001,7 mln. AZN). The latest figure is less by 8 319,4 mln AZN or 47.5% than the maximum level, and more by 1 204.1 mln AZN or 15% than the minimum level after the devaluation.

Notably, the M2 monetary aggregate is a measure of money supply, which includes cash manat funds, and all deposits in manats.