Money supply reaches to Rs35.18tr in November

January 02, 2024 (MLN): The total money supply circulating within the economy till November 2023 has been recorded at Rs35.18 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 October 2023 was Rs34.91tr whereas, in the month of November of last year, the figure was Rs30.82tr. This means that the money supply has risen by 0.78% MoM while, on a year-on-year basis, it has jumped by 14.15% YoY.

Having broken down the overall money supply into broad categories, the SBP data shows that Rs8.39tr were circulated as notes while Rs18.33tr 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 0.2% MoM, while rising by 10.67% over the year.

Apart from this, other deposits constituted Rs5.27tr in November 2023, down by 0.69% MoM and up 15.3% 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 remained rose to Rs9.24 billion in November 2023 compared to Rs9.19bn in the previous month and Rs9bn in November 2022.

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