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Azerbaijan's money supply grows 24% in 2022

BAKU. Jan 25 (Interfax) – Azerbaijan’s broad money supply, or M3 aggregate, which is cash, term deposits, and instant access and ordinary deposits, grew 23.6% in 2022 to 42.825 billion manat, the Central Bank of Azerbaijan told Interfax.

M3 rose 6.7% in Q4 2022.

M0, or cash money supply, was 13.298 billion manat, rising 8.1% over the quarter and 21.5% in 2022.

The M1 aggregate, which is cash and instant access and ordinary deposits, was 25.366 billion manat, up 7% and 23.3%, respectively.

M2 money supply, which is cash, instant access deposits, term deposits, and manat deposits, was 29.566 billion manat, up 6.7% and 23.8%.

Foreign currency deposits amounted to 13.259 billion manat at the end of December, up 6.5% over the quarter and up 23.1% in the year. The share of foreign currency deposits in the broad money supply was 30.96% as of December 31, up from 31.01% at the end of Q3.