Money base up 46% in 2007
The money base of Moldova for the year 2007 registered a 46.4% increase year on year, or by about 3.24 billion lei, reaching at the end of the year the level of 9.53 billion lei, Info-Prim Neo reports.
Data of the National Bank of Moldova (NBM) show that the monetary base rise is due, primarily, to the evolution of NBM’s net foreign assets, which rose by about 5.11 billion lei (+62.8%). The main factor which determined this growth was the net purchase of foreign currency on the internal interbank market.
At the same time, the internal net assets decreased by 2.88 billion lei or 2.3 fold against the end of 2006.
The volume of money in circulation registered a 29.5% growth, up to about 6.66 billion lei, NBM data show. In the monetary supply structure, the volume of money in circulation decreased by 9.1 percentage points – up to 69.9%.
At the same time, the share of currency reserves increased from 21% to 30%. The money supply M2 (money in circulation + deposits in lei) constituted at the end of the last year 18.39 billion lei, increasing by 47.3%. At the same time, the money supply M3 (M2 + deposits in foreign currency) rose by about 7.78 billion lei (+39.8%) up to nearly 27.34 billion lei. The majority of the money supply M3 was determined by the 5.54 billion lei (+55%) increase in the net internal bank assets and the 2.23 billion lei (+23.6%) rise in external net bank assets.