Central Bank of Azerbaijan has estimated that the total volume of money supply in the country, including cash, term deposits, demand deposits and deposits in national and local currency by 1 August was 21 billion 225,400,000 manat (+10% YTD). The largest increase (+ 3.19%) occurred in July.
By August 1 in circulation was 10 billion 508,900,000 manat. Deposits in foreign currency (mainly dollars, euros and pounds sterling, much less - Russian rubles) to this date have been at the level of $ 3 billion 790,300,000 manat (+ 32.78% for 7 months). Growth was done at the expense of residents. Foreigners, on the contrary, withdraw money from accounts in local banks. While the accounts of citizens grew in January-July by 12.3%, foreigners withdraw money - minus 18.88% since the beginning of the year. As explained financiers to the Turan correspondent, this is due to inspections in several banks and the collapse of Royal Bank, then part of the account owners ran out of money.
As of August 1, the total volume of deposits in domestic banks is 14 billion 558,100,000 manat (+ 16.7% at the beginning of the year). --17D-
Economics
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