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Bulgaria's End-Aug M1 Money Supply Falls 14.2% Y/Y, Up 1.05% M/M - Table

Sep 24, 2009, 1:22:39 PMArticle by Vera Borisova
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September 24 (SeeNews) - Bulgaria's M1 money supply, which includes cash in circulation and demand deposits, totalled 17.87 billion levs ($13.46 billion/9.14 billion euro) at the end of August, down 14.2% from a year earlier and 1.05% higher on the month, central bank data showed on Thursday.

Bulgaria's End-Aug M1 Money Supply Falls 14.2% Y/Y, Up 1.05% M/M - Table

The M2 money supply went up by 1.05% year-on-year to 46.151 billion levs at the end of August, and the M3 broad money increased by 1.03% on the year to 46.189 billion levs.

Bulgaria's money supply (in millions of levs):

Aug'09 July'09 Aug'08
M1 17,869 17,684 20,822
-currency outside banks 7,086 7,099 7,578
-demand deposits 10,783 10,585 13,064
M2 46,151 45,783 45,670
-deposits with maturity of up to two years 24,390 24,145 20,339
-deposits that can be used after three months notice 3,892 3,954 4,510
-quasi-money (M2-M1) 28,282 28,099 24,848
M3 46,189 45,822 45,716
-Lev broad money 34.501 36.348 31.376
-Fx broad money 3.118 3.508 14.107

NOTE: The central bank started releasing money supply data on a monthly basis from January 2007, when the country joined the European Union, instead of issuing figures weekly. Bulgaria is operating an IMF-prescribed currency board system, a tight monetary arrangement that ties the level of cash in circulation to the amount of central bank reserves. The fixed exchange rate of the Bulgarian lev under this system is 1.95583 per euro.

(1 euro = 1.95583 Bulgarian levs)

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