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[THE INVESTOR] The money supply in South Korea rose more than 7 percent on-year in August, according to the central bank on Oct. 12.
The nation’s M2 totaled 2,377 trillion won (US$2.10 trillion) in August, up 7.2 percent from a year earlier. It marks a 1.2 percent rise from July, according to the Bank of Korea.
M2 is a measure of the money supply counting the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It‘s a key economic indicator closely monitored by the authorities.
The BOK attributed the increase in money supply to a rise in deposits, short-term money in trusts and money market funds.
As of the end of August, the amount in demand deposit accounts rose 3.9 trillion won from a month earlier, while money held in money market funds increased 4.4 trillion won over the cited period.
(theinvestor@heraldcorp.com)
The nation’s M2 totaled 2,377 trillion won (US$2.10 trillion) in August, up 7.2 percent from a year earlier. It marks a 1.2 percent rise from July, according to the Bank of Korea.
M2 is a measure of the money supply counting the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It‘s a key economic indicator closely monitored by the authorities.
The BOK attributed the increase in money supply to a rise in deposits, short-term money in trusts and money market funds.
As of the end of August, the amount in demand deposit accounts rose 3.9 trillion won from a month earlier, while money held in money market funds increased 4.4 trillion won over the cited period.
(theinvestor@heraldcorp.com)
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