Baku. 10 March. REPORT.AZ/ The volume of cash money supply (M0 aggregate) out of banks in Azerbaijan amounted to 4 485 mln AZN as of February 1, 2016. Report informs referring to the Central Bank of Azerbaijan Republic (CBAR), M0 aggregate decreased by 290,9 mln AZN or 6,1% compared to January 1.
Note that, aside from banks cash money supply fell to the lowest level since 2009. The maximum level of cash money supply in history was recorded in July 2014 with 10 508,9 mln AZN.
M0 aggregate decreased by 4 862,9 mln AZN or 52% compared to the same period last year that means it fell by more than 2 times. This is due to the conversion of cash into foreign currency because of crisis.
Analytical Group of Report believes that, taking into account the global inflation, devaluation of manat and factor of increase of population cash money supply out of banks will not fall below 4 bln AZN in the last 7 years.