Azerbaijan money supply climbs 8% in H1
BAKU. Aug 16 (Interfax) - Azerbaijan's broad money supply (M3, cash, term deposits, demand deposits and deposits) increased 8.4% in the first half of 2011 to 11.41 billion manat, the Central Bank of Azerbaijan told Interfax.
M3 money supply increased 3.2% in June.
M0 money supply (cash in circulation) reached 5.85 billion manat, up 4.3% in June and 7.3% in the first half.
M1 money supply (cash, demand deposits and deposits) stood at 6.97 billion on July 1 2011, up 2% in June and 3.8% in the six months.
M2 money supply (cash, demand deposits, term deposits and manat deposits) totaled 8.73 billion, up 4% in June and 5.3% in January-June.
Foreign currency deposits totaled 2.68 billion manat, up 0.5% in June and 20.1% in the first half. The share of foreign currency deposits in the broad money supply was 23.5% on July 1 2011, compared with 24.1% on June 1.
The official exchange rate on August 16 stood at 0.7865 manat/$1.