Broad money supply in Belarus slightly decreased in October, while the growth of cash in circulation continued, according to data from the National Bank.
Broad money supply fell by 0.6%, or 555.5 million rubles, in October, amounting to 96.1 billion rubles as of November 1. Since the beginning of the year, it has increased by 8.3%, or 7.35 billion rubles.
The volume of cash in circulation rose by 53.9 million rubles in October to 13.86 billion rubles. Since the start of the year, cash in circulation has increased by more than 2 billion rubles.
The M1 monetary aggregate, including transferable deposits, decreased by 1 billion rubles in October to 31.56 billion rubles.
Money supply under the national definition fell by 1.27 billion rubles last month to 58.18 billion rubles.
Ruble-denominated money supply decreased by 1.33 billion rubles to 60.84 billion rubles.
The volume of foreign currency deposits rose by 423.6 million dollars in October to 11.7 billion dollars. Deposits by individuals increased by 7.5 million dollars to 4.91 billion dollars, while deposits by legal entities grew by 416.1 million dollars to nearly 6.8 billion dollars.
“Average broad money supply increased by 17.9% year on year. The main growth in money supply was driven by its ruble component. The average ruble money supply rose by 23.9% year on year. Amid the ongoing de-dollarization of the economy, the share of the ruble component in the average broad money supply rose by 3.1 percentage points to 64.2%,” the National Bank said.