NATIONAL CURRENCY IN CIRCULATION INCREASED BY 9.8 PERCENT FROM PREVIOUS YEAR

The money supply (M2) reached MNT 22.5 trillion at the end of October 2020, increased by MNT 2.0 trillion (9.8%) compared with the same period of the previous year. The main reason for this increase was resulted from MNT 1.7 trillion (53.0%) increase of time deposits in foreign currency, and MNT 1.4 trillion (13.2%) increase of time deposit in domestic currency.

At the end of October 2020, the money supply (M1) amounted to MNT 3.6 trillion, increased by MNT 6.9billion (1.9%) from the previous month, while it is decreased by MNT 553.4 billion (13.2%) from the same period of the previous year. In money supply (M1), MNT 2.9 trillion (81.0%) was demand deposits and MNT 0.7 trillion (19.0%) was the currency outside depository corporations.

At the end of October 2020, the quasi money amounted to MNT 18.8 trillion, decreased by MNT 20.9 billion (0.1%) from the previous month, while it is increased by MNT 2.6 trillion (15.7%) from the same period of the previous year. In the quasi money, MNT 12.0 trillion (63.8%) was a time deposit in domestic currency, MNT 4.8 trillion (25.7%) was time deposits in foreign currency and MNT 2.0 trillion (10.5%) was in the current account in foreign currency.

The national currency in circulation reached MNT 959.8 billion at the end of October 2020, increased by MNT 9.7 billion (1.0%) from the previous month, and MNT 85.9 billion (9.8%) from the same period of the previous year.

At the end of October 2020, the time deposit in domestic currency amounted to MNT 12.0 trillion, increased by MNT 377.1 billion (3.2%) from the previous month, and increased by MNT 1.4 trillion (13.2%) from the same period of the previous year.

The composition of the total time deposit in domestic currency shows that 89.4 percent (MNT 10.8 trillion) were individuals deposits and 10.6 percent (MNT 1.3 trillion) were entity deposits.

The time deposits in foreign currency amounted to MNT 4.8 trillion, decreased by MNT 262.5 billion (5.1%) from the previous month while it is increased by MNT 1.7 trillion (53.0%) from the same period of the previous year.

source: https://montsame.mn/en/read/243557