Belarus Shows 21.5% Broad Money Supply Increase since Early 2010

19.11.2010 11:49

According to the data of on November 1, 2010, Belarus increased the broad money supply by 21.5% to Br46.2 trillion in January-October 2010. Total cash in circulation (M0 monetary aggregate) has increased by 31.5% to Br4.7 trillion since the beginning of the year. The share of cash in the structure of money supply has risen to 10.4%  of November 1, 2010 (9.6%  of January 1, 2010), the National Bank reported.

As became known to Telegraf, M1 monetary aggregate, including cash and current ruble deposits in banks, has increased by 5.9% to Br12 trillion since the beginning of the year. The share of M1 monetary aggregate in the structure of broad money has declined to 25.9% as of November 1, 2010 (29.8% in January).

According to the National Bank, the ruble money supply (M2 *), which in addition to M1 includes the volume of ruble-denominated fixed-term deposits and securities, issued by banks and outside the bank circulation, increased by 21.2% to Br25.1 trillion in January-October 2010. The share of ruble component in broad money supply has fallen to 54.3% (54.4% in early 2010).

At the same time, the amount of foreign currency component of broad money supply has increased by 15.8% to $7.023 billion since the beginning of the year. At the same time the share of this index in the money supply structure has increased from 45.6% of January 1, 2010 to 45.7% of November 1, 2010.

The growth of broad money supply amounted to 23.1%  in 2009 against 26.3% in 2008. In addition, the ruble money supply increased by only 1% in 2009 after the increase of 22.5% in 2008.