October 23 (SeeNews) - Bulgaria's M1 money supply, which includes cash in circulation and demand deposits, totalled 17.686 billion levs ($13.574 billion/9.041 billion euro) at the end of September, down 13.8% from a year earlier and 1.02% lower on the month, central bank data showed on Friday.
The M2 money supply was up by 1.65% year-on-year to 46.387 billion levs at the end of September, and the M3 broad money increased by 1.6% on the year to 46.424 billion levs.
Bulgaria's money supply (in millions of levs):
|
|
Sept'09 |
Aug'09 |
Sept'08 |
| M1 |
17,686 |
17,869 |
20,525 |
| -currency outside banks |
6,925 |
7,086 |
7,745 |
| -demand deposits |
10,761 |
10,783 |
12,780 |
| M2 |
46,387 |
46,151 |
45,632 |
| -deposits with maturity of up to two years |
24,853 |
24,390 |
20,518 |
| -deposits that can be used after three months notice |
3,848 |
3,892 |
4,589 |
| -quasi-money (M2-M1) |
28,701 |
28,282 |
25,107 |
| M3 |
46,424 |
46,189 |
45,690 |
| -Lev broad money |
33.742 |
34.501 |
42.050 |
| -Fx broad money |
2.623 |
3.118 |
16.605 |
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)