Term deposits in foreign currency grow by 56.7 percent from last year

Economy
unurzul@montsame.gov.mn
2020-08-18 11:44:19

Ulaanbaatar/MONTSAME/. The money supply (M2) reached MNT 21.4 trillion at the end of July 2020, increased by MNT 1.1 trillion (5.3%) compared with the same period of the previous year. The main reason for this increase was resulted from MNT 1.7 trillion (56.7%) increase of time deposits in foreign currency, MNT 243.2 billion (2.2%) increase of time deposit in domestic currency and MNT 16.5 billion (2.6%) increase of currency outside depository corporations.


At the end of July 2020, the money (M1) amounted to MNT 3.5 trillion, decreased by MNT 118.6 billion (3.3%) from the previous month and MNT 325.2 billion (8.6%) from the same period of the previous year. For the total money (M1), MNT 2.8 trillion (80.9%) was the current account and MNT 0.7 trillion (19.1%) was the currency outside depository corporations.


At the end of July 2020, the quasi money amounted to MNT 17.9 trillion, increased by MNT 125.8 billion (0.7%) from the previous month and MNT 1.4 trillion (8.4%) from the same period of the previous year. In the quasi money, MNT 11.1 trillion (62.2%) was time deposits in domestic currency, MNT 4.6 trillion (25.6%) was time deposits in foreign currency and MNT 2.2 trillion (12.1%) was in current accounts in foreign currency.


The national currency in circulation reached MNT 926.3 billion at the end of July 2020, decreased by MNT 61.0 billion (6.2%) from the previous month and MNT 8.7 billion (0.9%) from the same period of the previous year.


At the end of July 2020, the time deposit in domestic currency amounted to MNT 11.1 trillion, increased by MNT 84.6 billion (0.8%) from the previous month and MNT 243.2 billion (2.2%) from the same period of the previous year. The composition of the total time deposit in domestic currency shows that 89.7 percent (MNT 10.0 trillion) were individuals’ deposits and 10.3 percent (MNT 1.1 trillion) were enterprises’ deposits.


The time deposits in foreign currency amounted to MNT 4.6 trillion, increased by MNT 230.0 billion (5.3%) from the previous month and MNT 1.7 trillion (56.7%) from the same period of the previous year.

 

Source: National Statistics Office of Mongolia

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