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Bulgaria's End-Nov M1 Money Supply Falls 7.8% Y/Y, Up 2.2% M/M - Table

Dec 23, 2009, 12:35:36 PMArticle by Vera Borisova
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December 23 (SeeNews) - Bulgaria's M1 money supply, which includes cash in circulation and demand deposits, totalled 17.738 billion levs ($12.928 billion/9.069 billion euro) at the end of November, down 7.8% from a year earlier and 2.2% higher on the month, central bank data showed on Wednesday.

Bulgaria's End-Nov M1 Money Supply Falls 7.8% Y/Y, Up 2.2% M/M - Table

The M2 money supply was up by 6.6% year-on-year to 46.719 billion levs at the end of November, and the M3 broad money increased by 6.5% on the year to 46.761 billion levs.

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

Nov'09 Oct'09 Nov'08
M1 17,738 17,365 19,245
-currency outside banks 6,778 6,840 7,583
-demand deposits 10,960 10,525 11,663
M2 46,719 46,512 43,833
-deposits with maturity of up to two years 25,115 25,289 20.049
-deposits that can be used after three months notice 3,866 3,858 4,539
-quasi-money (M2-M1) 28,981 29,147 24,588
M3 46,761 46,554 43,928
-Lev broad money 36.887 37.335 84.770
-Fx broad money 4.233 4.241 10.565

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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