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Bulgaria's End-Oct M1 Money Supply Falls 12.3% Y/Y, Down 1.8% M/M - Table

Nov 24, 2009, 1:35:16 PMArticle by Vera Borisova
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November 24 (SeeNews) - Bulgaria's M1 money supply, which includes cash in circulation and demand deposits, totalled 17.365 billion levs ($13.269 billion/8.879 billion euro) at the end of October, down 12.3% from a year earlier and 1.8% lower on the month, central bank data showed on Tuesday.

Bulgaria's End-Oct M1 Money Supply Falls 12.3% Y/Y, Down 1.8% M/M - Table

The M2 money supply was up by 4.5% year-on-year to 46.512 billion levs at the end of October, and the M3 broad money increased by 4.4% on the year to 46.554 billion levs.

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

Oct'09 Sept'09 Oct'08
M1 17,365 17,686 19,791
-currency outside banks 6,840 6,925 7,699
-demand deposits 10,525 10,761 12,092
M2 46,512 46,387 44,509
-deposits with maturity of up to two years 25,289 24,853 20,093
-deposits that can be used after three months notice 3,858 3,848 4,625
-quasi-money (M2-M1) 29,147 28,701 24,718
M3 46,554 46,424 44,603
-Lev broad money 37.335 33.742 82.940
-Fx broad money 4.241 2.623 10.686

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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