OREANDA-NEWS. September 02, 2008. The monetary base’s growth resulted mainly from the positive evolution of external and net internal assets of the National Bank of Moldova that increased by 1 bln. 275.9 mln. and 698.3 mln. lei, respectively, it was informed at the National Bank of Moldova.

According to the National Bank’s data, the amount of money in circulation increased to 7 bln. 58 mln. lei in June from 6 bln. 594.1 mln. lei in May.

The share of money in circulation in the money supply structure reduced from 68.8% in June to 61% in July.

At the same time, the share of banks’ reserves rose to 38.9% from 31.2% owing to the increase of the norm of banks’ obligatory reserves from 20% in June to 21% in July. M2 money supply increased by 907.4 mln. lei (4.4%) in July 2008 to total 21 bln. 410.7 mln. lei.

At the same time, M3 money supply rose by 1 bln. 36 mln. lei (3.4%) and reached 190.9 mln. lei as of the end-July. M2 indicator increased as a result of the growth of the balance of national currency deposits by 438.6 mln. lei (3.2%), growth of the amount of cash in circulation by 463.9 mln. lei (7%) and of the balance of other money market instruments by 4.8 mln. lei (81.5%).

According to the National Bank’s data, residents’ foreign currency deposits (converted in lei) rose by 128.7 mln. lei (1.3%). Converted in USD, they increased by USD 34.3 mln. (3.5%). The share of foreign currency deposits converted in lei in the total amount of money supply reduced to 31.4% in July from 32% in June.

The bank system’s net international (convertible) reserves increased by USD79.0 mln. to total USD 1 bln. 266.5 mln. The National Bank’s net international reserves in their structure increased by USD 160.3 mln., banks’ net international reserves reduced by USD 80.4 mln.