August 25 (SeeNews) - Bulgaria's M1 money supply, which includes cash in circulation and demand deposits, totalled 20.832 billion levs ($15.7 billion/10.7 billion euro) at the end of July, up 14% from a year earlier and 2.5% higher compared to the end of June, central bank data showed on Monday.
The M2 money supply rose to 45.009 billion levs at the end of July, up 23.8% from a year earlier and 2.5% higher on the month. The M3 broad money increased to 45.040 billion levs, up 23.8% on the year and 2.4% higher than at the end of June.
BULGARIA MONEY SUPPLY (in millions levs):
|
July'08 |
June'08 |
July'07 |
M1 |
20,832.405 |
20,326.698 |
18,278.650 |
-currency outside banks |
7,575.791 |
7,364.333 |
6,649.012 |
-demand deposits |
13,256.614 |
12,962.365 |
11,629.638 |
M2 |
45,009.305 |
43,928.875 |
36,365.259 |
-deposits with maturity of up to two years |
19,766.083 |
19,393.532 |
14,914.791 |
-deposits that can be used after three months notice |
4,410.817 |
4,208.645 |
3,171.818 |
-quasi-money (M2-M1) |
24,176.900 |
23,602.177 |
18,086.609 |
M3 |
45,039.815 |
43,964.787 |
36,372.574 |
-Lev broad money |
16.469 |
16.833 |
5.447 |
-Fx broad money |
14.041 |
19.079 |
1.868 |
NOTE: The central bank started releasing money supply data on a monthly basis in January 2007 when the country joined the European Union, instead of issuing figures weekly. Bulgaria is running 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)