The M2 money supply fell 2.2% month-on-month to 178.178 billion denars at the end of October.
Macedonia money supply (in millions of denars):
Oct'08 | Sept'08 | Oct'07 | |
M1 | 47,107 | 48,027 | 39,178 |
- currency outside banks | 16,608 | 16,552 | 16,575 |
- demand deposits | 30,499 | 31,475 | 22,603 |
M2 (M1+quasi-deposits) | 178,178 | 182,148 | 153,954 |
- quasi-deposits | 131,071 | 134,121 | 114,776 |
- non-monetary deposits | 16,966 | 15,317 | 9,486 |
M4 (M3+non-monetary deposits) | 195,144 | 197,465 | 163,440 |
NOTE: The monetary aggregate M3 includes M2 and special-purpose deposits, such as letters of credits, guarantees, remittances abroad, etc. The National Bank of the Republic of Macedonia (NBRM) does not publish data about this type of deposits.
Monetary aggregates are defined according to the methodology for International Monetary Fund (IMF) Monetary and Financial Statistics, based on the System of National Accounts. The statistics were first published in 1993.
(1 euro = 61.8048 Macedonian denars)