Money supply up 4.7% mom, monetary base by 5.7% in June
4 July 2008
The money supply (M3) in Ukraine increased 4.7% mom (13.6% YTD) to UAH 450 bln (USD 92.8 bln) in June, according to the National Bank of Ukraine, while the monetary base rose 5.7% (8.7% YTD) to UAH 154.2 bln (USD 31.8 bln). Andrii Parkhomenko: The rise in the monetary base, and correspondingly in the money supply, was mainly caused by currency interventions by the National Bank – in June the Bank bought USD 1.0 bln net on the currency market. As a result, funds on correspondent accounts of commercial banks with the National Bank surged 11.1% mom.
