| ($B) | 17-Oct-23 | 10-Oct-24 | 17-Oct-24 | Change over the Period | Y-O-Y % Change | % Change y-t-d |
| M 1 | 5.59 | 0.947 | 0.932 | (0.015) | -83.33% | -83.17% |
| M 2 | 6.61 | 1.160 | 1.148 | (0.012) | -82.63% | -82.66% |
| M 3 | 77.73 | 69.07 | 69.04 | (0.04) | -11.18% | -10.28% |
| M 4 | 79.23 | 69.22 | 69.18 | (0.04) | -12.69% | -12.02% |
BDL’s latest statistics on money supply revealed that Broad Money (M3) decreased by LBP 3,324.13 billion to stand at LBP 6,178,882 billion ($69.04 billion) by the week ending October 17th, 2024. Furthermore, on an annual basis, M3 decreased by 11.18% year-over-year and by 10.28% since year-start (YTD). Noting that effective February 8th 2024, the official exchange rate has been set at LBP 89,500 per dollar.
In details, M1 decreased by LBP 1,353.38 billion during the week ending October 17th, 2024, due to a decrease in currency in circulation of LBP 1,634.63 billion and an increase in demand deposits of LBP 281.25 billion. It decreased by 83.33% YOY and by 83.17% since year-start (YTD) to record $0.932 billion as exchange rate increased from 15,000 to 89,500 per dollar.
In turn, total deposits (excluding Demand deposits) decreased by LBP 1,970.76 billion ($22 million), owing to an increase term and saving deposits in LBP by LBP 238.41 billion and decrease in foreign currencies deposits by USD 24.68 million during the week.
As such, the rate of broad money dollarization slightly increased from 98.32% in the week ending October 10th, 2024 to 98.337% in the week ending October 17th, 2024.
On a different note, BDL approved on November 1st, 2024 two-months circulars 158 & 166 payments to ease the dire economic conditions.
Source: BDL; MoF
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