BELARUS NEWS AND ANALYSIS

DATE:

12/02/2007

Belarussian money supply grows 5.7% in Jan

MOSCOW. Feb 12 (Interfax) - The broad money supply in Belarus shrunk by 5.7% in January 2007 to 16.515 trillion Belarussian rubles as of February 1, 2007 the country's National Bank reported.

The broad money supply expanded by 7.5% in December 2006, after growing 1.8% in November, but falling 0.2% in October.

Cash in circulation (M0) dropped by 9.6% in January 2007 to 2.549 trillion rubles after growing 6.2% in December 2006. This was 15.4% of the total money supply as of February 1, 2007, compared to 16.1% at the beginning of 2007.

The M1 money supply (cash and immediate-access ruble deposits) dropped 15.9% in January 2007 to 5.905 trillion rubles, or 35.8% of the broad money supply, compared to 40.1% at the beginning of 2007. M1 money supply grew 15.5% in December 2006.

The ruble M2* aggregate (M1 plus ruble term deposits and securities) fell 9.5% in January to 11.145 trillion rubles, after growing 8.5% in December 2006.

The M2 aggregate in the national definition (M1 and term ruble deposits) fell 9.5% in January to 11.145 trillion rubles, or 68.1% of the broad money supply, down from 70.9% at the beginning of 2007. The indicator grew 8.5% in December 2006.

Foreign currency deposits stood at the equivalent of 5.239 trillion rubles on February 1, up 3.7% in January and up 5.2% in December 2006; this was up to 31.7% of broad money, compared to 28.9% at the beginning of 2007.

The broad money supply grew 39.3% in 2006, to 17.506 trillion rubles as of January 1, 2007, after growing by 42.2% in 2005 and by 58.1% in 2004.

The official exchange rate on February 12 was 2,142 rubles/$1.

Source:

http://www.interfax.com/3/240496/news.aspx