Money Supply Increases by 1.8 Percent

Economy
lebuyana@gmail.com
2023-01-24 13:58:19

Ulaanbaatar, January 24 /MONTSAME/.  The National Statistics Office (NSO) gave a briefing on the social and economic statistics of Mongolia in 2022.

 

The money supply (M2) reached MNT 29.7 trillion at the end of December 2022, which increased by MNT 1.8 (6.4%) trillion compared to the same period of previous year. The main reasons for this increase were MNT 2.6 (2.1 times more) trillion increase in the current account in foreign currency and MNT 936.9 (23.6%) billion increase in time deposits in foreign currency.

 

At the end of December 2022, the money supply (M1) amounted to MNT 7.2 trillion, increased by MNT 1.3 (21.6%) trillion from the previous month and increased by MNT 691.9 (10.6%) billion from same period of the previous year. In money supply (M1), MNT 6.4 (88.5%) trillion was demand deposits and MNT 831.1 (11.5%) billion was the currency outside depository corporations.

 

At the end of December 2022, the quasi money amounted to MNT 22.5 trillion, increased by MNT 1.0 (4.8%) trillion from the previous month and increased by MNT 1.1 (5.1%) trillion from same period of the previous year. In the quasi money, MNT 12.6 (56.1%) trillion was time deposits in domestic currency, MNT 4.9 (21.9%) trillion was time deposits in foreign currency, and MNT 4.9 (22.0%) trillion was current accounts in foreign currency.

 

The national currency in circulation reached MNT 1.1 trillion at the end of December 2022, increased by MNT 96.1 (9.7%) billion from the previous month while decreasing by MNT 16.3 (1.5%) billion from same period of the previous year.

 

At the end of December 2022, the net foreign assets amounted to MNT 2.5 trillion, increased by MNT 1.8 (3.5 times more) trillion from the previous month which decreased by MNT 1.3 (34.6%) trillion from same period of the previous year. The net domestic assets amounted to MNT 27.2 trillion, which increased by MNT 504.3 (1.9%) billion from the previous month and increased by MNT 3.1 (12.9%) trillion from same period of the previous year. Net domestic assets have been composed of the annual growth of the money supply.