Cash Turnover Deficit Exceeded $ 1 Billion

Total receipts of cash to banks in January-July 2012 amounted to 17.589 billion manat, which is 39.2% more compared to the same period last year. The largest share came from sale of foreign currency - 32.3%. The share of sales was 16.8%, the income on loans - 8%, revenues from ATMs - 4.9%, revenues from services and work - 4.1%, revenues for notary account when buying property - 3.9%; income on deposit accounts - 3.5%, etc.

According to the Central Bank of Azerbaijan, the shortage of cash turnover amounted to 835 million manat (AZN 243 million in July.) Thus, the cost of cash for the period amounted to 18.424 billion manat. This is 37.8% more than in 2011. Of the total expenditure the cost of purchasing goods and services amounted to 28.4%, 27% - the cost of ATM cash collateral, 10.6% - the cost of buying foreign currency, 6.2% - mortgage payments, 4.9% - expenses with notary accounts for property transactions, 3.1% - payments from deposit accounts, etc.

Cash balance in the first seven months of the year amounted to 315 million manat, which corresponds to 1.8% of cash receipts during that time.

The average size of the daily cash receipts equaled 82,578 AZN, and the average expenses were 86,499 manat. - 15B -