Money supply in a broad sense increased in Azerbaijan

Baku. 5 February. REPORT.AZ/ Volume of money supply in a broad sense in Azerbaijan on 1 January 2016 amounted to 21 318.6 million AZN, which is less by 3 874 100 000 manats or 22.21% than in December 1, 2015.

Report informs referring to the report of the Central Bank of Azerbaijan Republic (CBAR), this figure was reduced to 247,800,000 manats or 1.15% in comparison with the beginning of 2015. Notably, the maximum amount of the money supply in a broad sense in Azerbaijan was recorded in November 2014 and amounted to 21 689.8 million AZN.

The volume of manat money supply in a broad sense to January 1, 2016 amounted to 8 613 100 000 AZN, which is less by 436.9 million manats or 4.83% than December 1, 2015. In comparison with the beginning of last year, the figure fell by 8 822.7 million AZN or 50.6%. Notably, volume of manat money supply in a broad sense peaked in November 2014 and amounted to 17 525.2 million AZN.

Analytical Group Report believes that in December, the rate of decline of manat money supply in a broad sense accelerated. This is due to the transfer of the population of their savings in manat exchange before and after the December devaluation. As a result, the money supply in a broad sense increased, manat money supply decreased. It is expected that, this trend will change in the coming months and will move in the opposite direction. Strengthening of manat will boost the volume of manat money supply in a broad sense.