The Share of Foreign Currency in Money Supply Fell to Its Lowest Level in 14 Years

Money supply grew in June by 297 million or 2.6% to 11,753.7 million manat. Over the past 12 months, the volume of funds in manat in the economy grew by 3,018.3 million or 34.6%.

According to the Central Bank of Azerbaijan, the amount of cash outside the banking system increased in June by 241.9 million or 3.2% to 7,751.8 million manat, and non-cash increased by AZN 55.1 million or 1.4% to 4,001.9 million manat. The share of the latter in the structure of the manat treatment decreased to 34%.

Broad money contracted for the reported month by 51.5 million or 0.4%, and for the year it grew by 27.3% to 14,527.5 million manat.

The volume of foreign exchange supply in the banking system declined in June by 349 million or 11.2% to the equivalent of 2,773.8 million manat. Foreign exchange supply for the year increased 3.6%. The share of manat resources in the total money supply was 80.9%, up 4.4% compared to July 1 last year. Thus, the share of currency in cash for the first time for at least the last 14 years was less than 20%.

The total amount of the monetary base rose in June by 3.2%, and for the year it grew by 33.2% to 8,730.4 million manat. Manat money increased over the month by 281.3 million or 3.4% to 8,654.4 million manat. - 15B -