Money supply growth in Azerbaijan is related with a rise in price of foreign currency

Baku. 16 May. REPORT.AZ/ Volume of money supply in a broad sense in Azerbaijan amounted to 20 635.1 mln AZN as of April 1, 2016.

Report informs referring to the Central Bank of Azerbaijan (CBA), it is more by 1 036.3 mln AZN, or 5.29% than the figure for March 1,2016 and more by 1 127.7 mln AZN, or 5.78% in comparison with the same period of last year.

The volume of manat money supply in a broad sense as of April 1, 2016 amounted to 8,943 mln. AZN, which is more by 256.6 mln AZN or by 2.95%  than March 1,2016 and less by 3 550.1 mln AZN or 28.4 % than in the same period of last year. Notably, volume of manat money supply in a broad sense peaked in November 2014, when it amounted to 17 525.2 mln AZN. Today the figure is below the historical maximum by 8 582 2 mln AZN or 49%.

Analytical Group of Report News Agency notes that the growth in money supply in manat during March is associated with the growth of foreign currency funds in manat equivalent on the background growth of the US currency.