OREANDA-NEWS. July 2, 2009. The Central Bank of Azerbaijan has reported of 21.83% decline of extended money basis versus growth of 11.2% by 1st June 2009 and 44.27% for 2008.

The CB reports that volume of reserve money totaled AZN 3.88 bn by 1st June of the year against AZN 3.7 bn by 1st May and 4.96 bn by early 2009.

By 1st June of the year money basis in manats amounted AZN 3.8 bn versus AZN 3.769 bn by 1st May and 4.78 bn by 1st January 2009.

For Jan-May 2009 it declined by 20.1% but increased by 15% against the 2008 same term. At the same time if not to take seasonal factors (AZN 4.1 bn), this year money basis dropped by 6.9% versus AZN 4.4 bn by early 2009 but rose by 15.5% versus the 2008 same term (AZN 3.55 bn).

Meanwhile, the level of bank reserves decreased by 54.7% since early 2009 and by 25.7% versus the 2008 relevant period.

As of 1st June 2009 exchange rate made AZN 0.8042 to the US dollar.