Azerbaijan sees increase in monetary base

The monetary base in Azerbaijan amounted to 17.2 billion manat ($10.1 billion) as of February 28, 2023, which was 23.69 percent or 3.3 billion manat ($1.9 billion) more than in the same period of 2022, reports citing the Central Bank of Azerbaijan.

According to the bank, the monetary base increased by 2.15 percent or 363.8 million manat ($214 million) compared to the previous month.

Meanwhile, the monetary base in February 2022 amounted to 13.9 billion manat ($8.17 billion).

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

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