Belarusian broad money supply expands 4.2% in 2 mths
MINSK. March 14 (Interfax) - The broad money supply in Belarus expanded 4.2% in January-February 2011 to 52.372 trillion Belarusian rubles (Br), the National Bank reported.
The broad money supply increased 6.1% in February following a contraction of 1.8% in January.
The growth mainly reflects increased ruble time deposits from individuals, as well as an increase in demand deposits. Foreign currency deposits also grew, although at a much lower rate.
Cash in circulation (M0) equaled 4.796 trillion Br as of March 1, 2011, up 6.4% in February and 6.7% in January-February. M0 accounted for 9.2% of the broad money supply as of March 1 compared with 8.9% on January 1.
The M1 money supply (cash and ruble demand deposits at banks) declined 3.6% in January-February, but rose 7.6% in February, to 13.165 trillion Br. M1 accounted for 25.1% of the money supply on March 1 versus 27.1% on January 1.
The ruble M2 aggregate (M1 plus ruble time deposits and securities) expanded 10.2% in February and 6.5% in the two months to 28.139 trillion Br.
The ruble M2 accounted for 53.7% of the money supply on March 1, up from 52.6% on January 1.
The M2 aggregate in the national definition (not including funds in ruble securities) grew 5.3% in the two months (and 9.7% in February) to 26.751 trillion Br.
The share of forex deposits in the broad money supply declined to 43.3% from 44% on January 1. The ruble value of deposits rose 1.6% in February and 2.4% in January-February to 22.654 trillion Br.
The broad money supply (M3 aggregate) rose 31.9% in 2010 and the ruble money supply (M2 aggregate) increased 27.4%.
Belarus has forecast the broad money supply to increase 25%-28% in 2011 and the ruble money supply to rise 27%-29% based on a GDP growth forecast of 9%-10% this year.
The official exchange rate on March 14 was 3,028 Br/ $1.
