BDL’s latest statistics on money supply revealed that Broad Money (M3) decreased by LBP 3,661.7 billion to stand at LBP 6,159,256 billion ($68.82 billion) by the week ending November 21th, 2024. On an annual basis, M3 decreased by 11.37% year-over-year and by 10.56% year to date (YTD). Noting that effective February 8th 2024, the official exchange rate has been set at LBP 89,500 per dollar.
In details, M1 contracted by LBP 872.53 billion during the week of 15 to 21 November 2024, due to a decrease in currency in circulation of LBP 626.94 billion and in demand deposits of LBP 245.59 billion. It decreased by 84.03% YOY and by 83.63% YTD to record $906 million as exchange rate increased from 15,000 to 89,500 per dollar.
In turn, total deposits (excluding Demand deposits) dropped by LBP 2,789.17 billion ($31.16 million), owing to a decline in term and saving deposits by LBP 231.15 billion during the week and a decrease in deposits denominated in foreign currencies by USD 28.58 million compared to the previous week.
As such, the rate of broad money dollarization slightly increased slightly from 98.335% in the week ending November 14th, 2024 to 98.352% in the week ending November 21th, 2024.
Source: BDL; MoF
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