Turnover speed of manat increased sharply in Azerbaijan

Baku. 8 September. REPORT.AZ/ In July credit investments in the economy of Azerbaijan decreased by 140.3 million manats or 0.6% and reached 22 329,1 million manat as of August 1. Report informs referring to the Central Bank of Azerbaijan Republic CBAR, credit investments in economy increased by 3 495,8 million manats or 18.6% in annual comparison.

In July, broad money supply decreased by 1.3%, or 138.3 million manats amounting to 10 853,5 million manats as of August 1, 2015. This figure went down by 6 581,6 mln manats or 37.7% in comparison with the same period of last year.

Broad money supply in manat banknotes covers deposits and deposits in manat in circulation.This is why the turnover rate of manat rose to the highest level since July 2011 and reached 5.06.

The reason for the increase in turnover rate of manat is that the rate of decline in money supply in circulation exceeded inflation and GDP growth.Thus, as of July 1 the figure was 4.78, while on August 1 last year was 3.34.