Georgia boosts money supply 7% in 9M
TBILISI. Oct 28 (Interfax) - Broad money supply (M3 aggregate) in Georgia stood at 10.517 billion lari, or $5.998 billion at the current exchange rate, as of October 1, 2014, up by 6.9%, or 680.1 million lari, from the start of 2014, the National Bank of Georgia said in a press release.
Money supply grew 3.8% in the third quarter, including a 2.4% rise in September. In addition, money supply grew 17.5% for the year (end-September 2013 to end-September 2014).
National currency in circulation fell 2.4% in the 9M to 2.295 billion lari. The volume of reserve money grew 1.7% to 4.057 billion lari.
Foreign currency money supply (M2 aggregate) increased 1.2% to 5.481 billion lari, and cash outside banks and national currency demand deposits, not including bank and government sector deposits, fell 4.5% to 4.115 billion lari.
Deposits totaled 8.663 billion lari in October 2014, up 9.1%, including the equivalent of 5.035 billion lari in foreign currency deposits, up 14%, and 3.627 billion in national currency deposits, up 3.1%. The share of foreign currency deposits was 58.1%, up 1.5 percentage points from the beginning of the year.
Cash outside banks (M0 aggregate) decreased 2.4% to 1.854 billion lari.
The official exchange rate on October 28 stood at 1.7533 lari/$1.