Azerbaijan monetary base tops $1.1B

Azerbaijan monetary base tops $1.1B

BAKU, Azerbaijan, June 1. The monetary base for June 1, 2023, amounted to 17.3 billion manat ($10.1 billion), which is 16.57 percent, or 2.4 billion manat ($1.4 billion) more in comparison with the same period in 2022, TurkicWorld reports.

According to the Central Bank of Azerbaijan, the monetary base in Azerbaijan in May 2022 amounted to over 14.5 billion manat ($8.5 billion).

The indicator of the monetary base at the beginning of June is 1.47 percent or 259.4 million manat ($152.5 million) less compared to the indicator at the beginning of May 2023.

The monetary base includes cash and free bank and mandatory reserves of commercial banks in circulation.