Ukraine’s M3 money supply up 0.5% m/m in May.

By bne IntelliNews June 25, 2013

Ukraine’s money supply M3 rose by 0.5% m/m to UAH 821.7bn (USD 102.7bn), the National Bank of Ukraine (NBU) has announced in its latest report. The volume of cash in circulation outside depository corporations (M0) decreased by 0.3% - to UAH 213.9bn, M1 (M0 + transferable deposits in national currency) - increased by 0.8% to UAH 352.2bn, M2 (M1 + transferable deposits in foreign currency and other deposits) - 0.5% to UAH 819.3bn.

Domestic credit as of May-end totaled UAH 1.1tn, up by 0.85% m/m. Net foreign assets decreased by 6.1% - to UAH 105.8bn. The amount of cash in circulation declined by 0.3% m/m to UAH 213.919bn as of June 1. Since the beginning of 2013, the amount of cash in circulation rose by 5.3% or UAH 10.674bn.

The NBU plans growth of monetary base in Ukraine in 2013 to amount to 6-8% depending on economic development. The government's forecast for macroeconomic indicators contains two scenarios. Under the first, optimistic scenario, the growth of the monetary base in 2013 could be 8%. If the macroeconomic situation develops according to the second pessimistic scenario, there is reason to forecast that the growth of the monetary base will be 6%.

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