Population Removes Deposits from Banks

The population continued to withdraw deposits from banks in Azerbaijan - by February 1, they were at the level of 8 billion 643.3 million manats.

According to the Central Bank of Azerbaijan, it is 830 600 000 (8.77%) less than at the beginning of the year.

In absolute terms the level of bank deposits in the national currency over the past year increased by 33.6%, but in reality it decreased by 66.4% - as a result of the two waves of devaluation on 21 February and 21 December 2015 the manat sank almost 100 % to USD. --17D-

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