Individuals’ savings make up 85.6 percent of total time deposit

Economy
unurzul@montsame.gov.mn
2020-02-17 15:33:36

Ulaanbaatar/MONTSAME/. The money supply (broad money or M2) reached MNT 20.5 trillion at the end of January 2020, increased by MNT 0.9 trillion (4.6%) compared with the end of the previous year. The main reason for this increase has resulted from MNT 667.8 billion increase of time deposit in domestic currency and MNT 611.5 billion increase of time deposits in foreign currency.

At the end of January 2020, the national currency in circulation reached MNT 837.8 billion, decreased by MNT 201.4 billion (19.4%) from the same period of the previous year. The Current account increased by MNT 105.2 billion increase but currency outside depository corporations decreased by MNT 127.9 billion from the same period of the previous year.

At the end of January 2020, the money (M1) amounted to MNT 3.7 trillion, showing a decrease of MNT 248.7 billion (6.4%) from the previous month and a decrease of MNT 22.7 billion (0.6%) from the same period of the previous year. In the total money (M1), MNT 3.1 trillion (84.5%) was the current account and MNT 0.6 trillion (15.5%) was the currency outside depository corporations.

At the end of January 2020, the quasi money amounted to MNT 16.9 trillion, showing a decrease of MNT 45.0 billion (0.3%) from the previous month while it is showing an increase of MNT 920.5 billion (5.8%) from the same period of the previous year. In the quasi money (M1), MNT 10.8 trillion (64.2%) was a time deposit in domestic currency, MNT 3.6 trillion (21.1%) was time deposits in foreign currency and MNT 2.5 trillion (14.7%) was in the current account in foreign currency.

At the end of January 2020, the time deposit in domestic currency amounted to MNT 10.8 trillion, decreased by MNT 271.6 billion (2.4%) from the previous month while increased by MNT 667.8 billion (6.6%) from the same previous year. The composition of the total time deposit in domestic currency shows that 85.6 percent (MNT 9.3 trillion) were individuals’ deposits and 14.4 percent (MNT 1.6 trillion) were corporations’ deposits.

The time deposits in foreign currency amounted to MNT 3.6 trillion, increased by MNT 73.3 billion (2.1%) from the previous month, and increased by MNT 611.5 billion (20.8%) from the previous year.

Source: National Statistics Office