| ($B) | 31-Oct-23 | 24-Oct-24 | 31-Oct-24 | Change over the Period | Y-O-Y % Change | % Change y-t-d |
| M 1 | 5.45 | 0.928 | 0.964 | 0.037 | -82.32% | -82.58% |
| M 2 | 6.48 | 1.148 | 1.180 | 0.032 | -81.79% | -82.18% |
| M 3 | 77.42 | 69.02 | 69.10 | 0.08 | -10.75% | -10.20% |
| M 4 | 78.97 | 69.15 | 69.23 | 0.08 | -12.34% | -11.95% |
BDL’s latest statistics on money supply revealed that Broad Money (M3) increased by LBP 7,181.36 billion to stand at LBP 6,184,172 billion ($69.1 billion) by the week ending October 31st, 2024. However, on an annual basis, M3 decreased by 10.75% year-over-year and by 10.2% 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 increased by LBP 3,275.78 billion during the week ending October 31st, 2024, due to increase in demand deposits of LBP 2,391.32 billion and in currency in circulation of LBP 884.46 billion. It decreased by 82.32% YOY and by 82.58% since year-start (YTD) to record 964 million as exchange rate increased from 15,000 to 89,500 per dollar.
In turn, total deposits (excluding Demand deposits) rose by LBP 3,905.58 billion ($44 million), owing to a decline in term and saving deposits in LBP by LBP 415.65 billion and increase in foreign currencies deposits by USD 48.28 million during the week.
As such, the rate of broad money dollarization slightly dropped from 98.34% in the week ending October 24th, 2024 to 98.29% in the week ending October 31st, 2024.
Source: BDL; MoF
Disclaimer:
This article is a research document that is owned and published by Blominvest Bank SAL.
No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of Blominvest Bank SAL.
The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither Blominvest Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.
Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.
This research article is prepared for general circulation and is circulated for general information only.