Monetary base in Azerbaijan sharply decreased

Baku. 9 March. REPORT.AZ/ In February 2015, the monetary base in the country decreased by 12% and on March 1 this year amounted to 9 109, 9 million manats.

Report was told in the Central Bank of Azerbaijan, since the beginning of the year, the monetary base decreased by 21% or 2,440 million manats.The monetary base reflects the amount of free reserves of banks and cash in circulation. The main reduction occurred in the cash turnover. Presumably, some of the cash withdrawn from circulation by conversion of foreign currency.