During the three-week period starting April 2 to 23 2015, broad Money M3 increased by LP 488B ($323.82M), to reach LP 178,357B ($118.31B) with a 4.55% year-on-year growth and a 0.5% year-to-date uptick. However, the increase came from term and foreign currency deposits as M1 declined by LP 600B ($397.71.M) to LP 7,659B ($5.08B).
Total deposits (excluding demand deposits) went up by LP 1,088B ($721.53M), given the expansion of deposits denominated in foreign currencies by $404.98M and in term and saving deposits in domestic currency by LP 477B. Over the above mentioned period, the broad money dollarization rate experienced an uptick from 58.10% to 58.20%. According to the Central Bank, the overnight interbank rate remained constant at 2.75% at the end of March 2015.
In the TBs auction held on the 30th of April 2015, 100% of bids were accepted, in which the Ministry of Finance issued bills maturing in 6M notes and 3Y bills with respective yields of 4.87% and 6.50%.