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Money stock in Kazakhstan increased 1.2% in February
Almaty, April 9, 2008
The money supply in Kazakhstan in February increased by 1.2% to 4,651.5 billion tenge (current FOREX rate is 120.55/$1).
The growth in money supply was due to an increase in the net external assets of the republic’s banking system, the National Bank says in a Wednesday statement.
The money in circulation in February, according to the statement, increased by 1% to 683.9 billion tenge, the deposits in the banking system rose by 1.2% to 3,967.6 billion tenge.
The portion of deposits in the money stock did not change and stood at 85.3%.
A faster expansion of the monetary base as compared to the slower increase in the money supply in the reporting period has caused a decrease in the money multiplier to 2.94 from 3.04.
Source: Interfax Kazakhstan
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