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    Monetary base reduced in Azerbaijan - ANALYSIS

    Demand of commercial banks at the expense of the CBAR increased

    Baku. 16 April. REPORT.AZ/ In February of this year, the official international reserves of the Central Bank of Azerbaijan Republic (CBAR) decreased by 13.2% or 1.68 billion manats and as of March 1 totaled 11.004 billion manats.

    From the beginning, reserves decreased by 20% (2.75 billion manats).

    Compared to the same period last year this figure reduced by 23.8% (3.44 billion manats).

    Report informs referring to the CBAR, during the reporting period, the volume of official reserve assets decreased by 4.426 million dollars, or 37.6% amounting to 7.341 billion dollars, investments in securities - by 42.8% to 4.237 billion dollars.

    In addition, as of March 1, the monetary base amounted to 9.736 billion manats.This figure for the last month decreased by 1.024 billion manats, or 9.5%, which is reduced in circulation cash or balances on correspondent accounts of commercial banks in the CBA.

    As a result of financial support of commercial banks, faced with foreign exchange risks after the devaluation, the demand of commercial banks at the expense of the CBA in February increased by 212 million manats, or 12.5%.

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