Residents of local banks have begun to open more deposit accounts in foreign currency. By June 1, these funds were equivalent to 3 272.8 million (14.65% YTD).
Number of outstanding cash deposits and medium-checks on the 1st of June this year was 19 968.6 million (+3.52% YTD). According to the Central Bank of Azerbaijan (CBA), in May, the mass M3 expanded by 0.89%.
The largest share of the money supply is in cash - 10 207.2 million (minus 2.41%).
Monetary aggregate M1 (cash, check deposits and funds in settlement and current accounts) amounted to 12 545.8 million (minus 1.5%).
M2 money supply (M1 + time deposits) on June 1, 2014 amounted to 16 695.7 million (1.59%). - 17D-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review