M3 Recorded $65.71 Billion as of May 14, 2026
M3 Recorded $65.71 Billion as of May 14, 2026
| ($B) | 14-May-25 | 07-May-26 | 14-May-26 | % Weekly Change | % YOY Change | % YTD Change |
| M 1 | 1.28 | 1.034 | 1.020 | (0.014) | -20.24% | -17.85% |
| M 2 | 1.69 | 1.422 | 1.414 | (0.008) | -16.13% | -13.28% |
| M 3 | 69.23 | 65.76 | 65.71 | (0.050) | -5.08% | -2.11% |
| M 4 | 69.31 | 65.81 | 65.76 | (0.050) | -5.13% | -2.12% |
BDL’s latest statistics on money supply revealed that Broad Money (M3) decreased by LBP 4,439.78 billion to stand at LBP 5,881,376 billion ($65.71 billion) by the week ending May 14th, 2026. As such, M3 decreased by 5.08% year-over-year (YOY) and by 2.11% year to date (YTD).
In details, M1 contracted by LBP 1,262.86 billion during the week of 8 to 14 May 2026, due to a decrease in currency in circulation of LBP 1,662.60 billion and an increase in demand deposits of LBP 399.74 billion.
In turn, total deposits (excluding Demand deposits) dropped by LBP 3,176.92billion ($35.5 million), owing to a decrease in in deposits denominated in foreign currencies by USD 41.59 million accompanied with a rise in LBP term and saving deposits by LBP 413.23 billion compared to the previous week.
As such, the rate of broad money dollarization increased slightly from 97.837% in the week ending May 7th, 2026 to 97.848% in the week ending May 14th, 2026.
It is to be noted that as per Dr. Ali Shreif’s (head of Monetary Operations Unit at Central Bank) talk with Annahar newspaper in its May 21st, 2026 release, new banknotes will enter the Lebanese market after a year in denominations of 500 thousand, one million, two million, and five million. As per sources, these new banknotes will not increase inflationary pressures as the main purpose of these releases is to facilitate the usage of Lebanese Pounds after replacing a bunch of back notes with fewer ones. This will also lessen the efforts and costs of transporting and storing these banknotes on Lebanese State, commercial banks and companies.
Looking at interest rates, the average rate on deposits in LBP at commercial banks increased from 2% in March 2025 to 3.66% in March 2026. Meanwhile, the average rate on deposits in USD at commercial banks stabilized at 0.1% from March 2025 to March 2026. In turn, the average lending rate in LBP and USD at commercial banks increased in both currencies: LBP loans rates increased to 9.8% from 6.41% a year earlier, while USD loans rates increased to 4.78% from 4.11%.
Analytically, the money supply M3 can be derived from combining the balance sheet of BDL with the balance sheet of banks to arrive at the monetary survey of the banking system. The resulting M3 would be equal to the sum of: net foreign assets (NFA), credit to the private sector (CPS), net credit to the public sector (NCPS), and other items net (OIN). Latest data show that in March 2026, M3 stood at LBP 5,941,791 billion versus LBP 6,212,019 billion in March 2025; NFA were LBP 3,524,766.5 billion compared to LBP 2,105,940.2 billion in March 2025; CPS was LBP 515,335 billion compared to LBP 515749.2 billion in March 2025; NCPS was LBP 2,482,178 billion compared to LBP 4,152,333.5 billion in March 2025; and OIN were negative LBP 580,488.1 billion compared to negative LBP 562,003.7 billion in March 2025.
Source: BDL; MoF
