Money supply nears Rs43tr as of April

May 26, 2025 (MLN): The total money supply circulating within the economy till April 2025 has been recorded at Rs42.07 trillion, according to provisional accounts on Monetary Aggregates for the month, maintained by the State Bank of Pakistan (SBP).

The money circulating within the economy until March 2025 was Rs41.99tr, whereas, in April of last year, the figure was Rs37.24tr. This means that the money supply has risen by 0.17% MoM while, on a year-on-year basis, it has jumped by 12.96% YoY.

Having broken down the overall money supply into broad categories, the SBP data shows that Rs9.97tr were circulated as notes while Rs23.05tr accounted for transferable deposits, which comprise all deposits that are exchangeable on demand at par without penalty/restriction.

The currency circulated as notes, which have been high in Pakistan relative to other developed and emerging economies because of the high informal economy, fell by over 2.6% MoM while rose by 14.27% over the year.

This reflects higher cash withdrawals by depositors to meet needs amid high inflation.

Apart from this, other deposits constituted Rs5.73tr in April 2025, up by 1.79% MoM and up 2% YoY.

Other deposits represent all claims other than transferable deposits in national or foreign currency that are represented by evidence of deposits.

Meanwhile, coins in circulation stood at Rs9.25 billion in April 2025 compared to Rs9.2bn in the previous month and Rs9.43bn in April 2024.

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