Azerbaijan boosts money supply 13% in Jan-July 2011
BAKU. Sept 23 (Interfax) - Azerbaijan's M3 broad money supply totaled 11.92 billion manat on August 1 2011, up 13.2% on the start of the year, the Central Bank of Azerbaijan told Interfax.
M3 grew 4.4% on the previous month in July.
M0 money supply, or cash in circulation, amounted to 6.2 billion manat on August 1, up 13.6% in the seven months and 5.9% in July.
M1 money supply (cash, demand deposits and deposits) totaled 7.68 billion, up 14.3% in January-July and 7.7% in July.
M2 money supply (cash, demand deposits, term deposits and manat deposits) grew 12.7% to 9.35 billion manat, including a 7% climb in July.
Foreign currency deposits totaled 2.57 billion manat and were up 15.2% with a 4% drop in July. Foreign currency deposits accounted for 21.55% of broad money supply on August 1, compared with 2.45% on July 1 2011.
The official exchange rate on September 23 stood at 0.7868 manat/$1.