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Money supply in a broad sense reduced in Azerbaijan

The volume of money supply in manats grew by 9% in February

Baku. 11 April. REPORT.AZ/ Volume of money supply in Azerbaijan amounted to 19 598.8 mln AZN on March 1, 2016. 

Report informs referring to the Central Bank of Azerbaijan (CBA), it is by 331.4 mln. AZN or 1.66% less than February 1. In comparison with the same period last year it decreased by 516.4 mln AZN or 2.57%.

The amount of monetary money supply in a broad sense on March 1, 2016 amounted to 8 686,4 mln AZN which is by 684.7 mln AZN or 8.56% more than the figure for February 1 and by 4 920.6 million AZN, or 36 , 1% less than the same period last year.It should be noted that the volume of money supply in manats broadly peaked in November 2014 to the level of 17 525.2 mln AZN.Today the figure is below the historical maximum of 8 838 8 mln AZN or 50.4%.

Analytical Group of Report News Agency beieves that the increase in money supply in manats in a broad sense, in February explained by population's transfer of their manats into dollar during the sharp rise of the dollar:" Last time the index rose in May 2015, when it reached 11 051.4 mln AZN.Reduction of money supply observed for the past 14 months, except in May 2015.

"In general, the reduction in the money supply in a broad sense is characterized by the reduction of deposits and deposits in foreign currency", stressed the analysts.

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