Russia's money supply in national definition grows 1.3% in Sept, annual growth accelerates to 18.8% - CBR

MOSCOW. Oct 31 (Interfax) - Russia's M2 money supply in the national definition grew by 1.4 trillion rubles or 1.3% to 107.6 trillion rubles in September after expanding by 1.8% in August, the Central Bank of Russia (CBR) reported on its website.

The annual growth of the money supply accelerated to 18.8% by October 1 from 17.9% a month earlier. It grew by 9.2 trillion rubles or 9.4% in the first nine months of 2024.

The broad money supply, adjusted for currency revaluation, increased by 1.3% in September after growing by 1.1% in August, and its annual growth accelerated 15.4% as of October 1 from 14.5% a month earlier.

The CBR said the banking system's claims against organizations and households continued to make a definitive contribution to the growth of the broad money supply (adjusted for currency revaluation). As of October 1, this contribution was unchanged from a month earlier.

The monthly growth of claims against households slowed to 0.2 trillion rubles, while the growth of claims against organizations accelerated to 1.9 trillion rubles. As a result, the annual contribution of the banking system's claims against the economy totaled 23.7 trillion rubles, which was unchanged from a month earlier. The annual growth of claims against households decreased to 5.8 trillion rubles, while the growth of claims against organizations rose to 17.9 trillion rubles.

The public sector's contribution to the annual growth of the money supply was negative at minus 1.1 trillion rubles as of October 1.

The contribution of the net foreign assets of the CBR and lending institutions to the annual growth of the money supply remained negative, amounting to minus 1.7 trillion rubles as of October 1.

The amount of currency in circulation, or M0, decreased by 4.0 billion rubles or 0.02% in September and by 2.0% in the first nine months of 2024, to 16.8 trillion rubles.

The annual growth of cash money remained negative at minus 3.2% as of October 1 compared to minus 3.3% a month earlier.

Cash as a share of the money supply shrank to a new record low of 15.6% as of October 1 from 15.8% a month earlier.

The M2 money supply includes M1 (currency in circulation outside the banking system (M0) and balances in national currency in settlement, current and other demand accounts of households, nonfinancial and financial (other than credit) organizations that are residents of Russia) and balances in national currency in term deposits and other funds raised for a term of households, nonfinancial and financial (other than credit) organizations that are residents of Russia.

The broad money supply includes the M2 aggregate as well as all deposits in foreign currency, and deposit and savings certificates.