How Much Cash Do People in Azerbaijan Hold?

The broad money supply in Azerbaijan reached AZN 56 billion and 8.1 million as of the end of September 2026, marking the highest level ever recorded.
Yeniavaz.com reports, citing data from the Central Bank, that this figure is AZN 8 billion and 22.4 million, or 16.7%, higher than at the end of September 2025. During the same period last year, the broad money supply stood at AZN 47 billion and 985.7 million.
The volume of the money supply in manats also increased significantly during the reporting period. This indicator, known as the M2 monetary aggregate, stood at AZN 45 billion and 117.5 million at the end of September 2026. This is AZN 7 billion and 929.4 million, or 21.3%, higher than the figure recorded a year earlier.
The volume of cash held outside banks (M0) increased by AZN 2 billion and 115.2 million over the year, reaching AZN 19 billion and 126.5 million. Thus, the volume of cash circulating outside banks rose by 12.4% year-on-year.
The M1 monetary aggregate, which includes demand deposits and cash held outside banks, also increased. This indicator rose from AZN 29 billion and 468.4 million at the end of September 2025 to AZN 34 billion and 483.8 million during the same period in 2026. The annual increase amounted to AZN 5 billion and 15.4 million, or 17%.
The volume of demand deposits in manats increased from AZN 12 billion and 457 million to AZN 15 billion and 357.3 million over the year. This represents an increase of 23.3%. The volume of time deposits in manats rose from AZN 7 billion and 719.8 million to AZN 10 billion and 633.8 million. These deposits increased by 37.7%.
The volume of foreign currency deposits changed relatively little. This indicator rose from AZN 10 billion and 797.6 million at the end of September 2025 to AZN 10 billion and 890.6 million during the same period in 2026. The increase amounted to just AZN 93 million, or 0.9%.

Elnur Ali