S. Korea's money supply growth up 13.2 pct in July
10/9/2008 17:21
South Korea's money supply gained 13.2 percent in July, growing at a
faster pace than June's 12.7 percent as lending by households and companies
increased, the Bank of Korea (BOK) said today.
The BOK said the country's
liquidity aggregate, the broadest measure of money supply, amounted to 2,208.2
trillion won (2.03 trillion US dollars) in July.
The BOK added that the
liquidity aggregate marked a double digit growth for the 23rd straight month as
of July.
The liquidity aggregate covers currency in circulation, all types of
deposits at financial institutions, and state and corporate bonds.
Meanwhile,
M2, a narrower measure of money supply, also grew at a slower pace in July than
a month ago, the BOK said.
"Although liquidity provided by financial
institutions increased, the growth of the M2 slowed down as foreign investors
went on a selling spree of local stocks," the central bank said.
The M2
covers currency in circulation and all types of deposits with maturity less than
two years at lenders and non-banking financial institutions, except from
insurers and brokerage houses.
Xinhua
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