Reduction Rate for the Share of Foreign Currency in the Money Supply Keeps Same

Money supply rose in July by 217.3 million or 1.8%, to 11,971 mln. Over the past 12 months, the volume of funds in manat in the economy grew by 2,619.6 million or 28%.

According to the Central Bank of Azerbaijan, the amount of cash outside the banking system rose in July by 260.5 million or 3.4% to 8,012.3 million manat, and non-cash decreased by AZN 43.2 million or 1.1% to 4,001.9 million manat. The share of the latter in the structure of the manat circulation decreased to 33.1%.

Broad money increased in the reported month by 175.5 million or 1.2%, and for the year it grew by 23.3% to 14,703 million manat.

The volume of foreign exchange supply in the banking system declined in July by 41.8 million or 1.5% to the equivalent of 2,732 million manat. Foreign exchange for the year increased 6.3%. The share of AZN resources in the total money supply was 81.5%, up 3% compared to August 1 last year. Thus, the share of currency in cash for the first time in recent years was 18.5%.

The total amount of the monetary base grew in July by 3.5%, and for the year it grew by 30.2% to 9,039.6 million manat. The manat money base increased over the month by 285.8 million or 3.3% to 8,940.2 million manat. - 15V -