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Money stock in Kazakhstan grew 3.5% in March, 4% year to date
Almaty, May 14, 2008
Interfax-Kazakhstan - The money supply in Kazakhstan in March grew by 3.5% to 4,815.2 billion tenge (current FOREX rate is 120.61/$1).
The increase in money supply was due to a growth in the net external assets of the republic’s banking system, the National Bank says in a Wednesday statement.
However in the year to May the money stock has risen by 4%.
The money in circulation in March, according to the statement, increased by 1.8% (a decrease of 5.9% from January) to 696.4 billion tenge, the deposits in the banking system went up by 3.8% (5.9% growth since January) to 4,118.2 billion tenge.
A faster compression of the monetary base as compared to the growth rate of the money supply in March 2008 has caused an increase in the money multiplier to 3.05 from 2.94.
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