S. Korea's Money Supply Up 6.9% in January
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Seoul - QNA
The money supply in South Korea jumped 6.9% in January from a year earlier, the central bank said Thursday.The nation's "M2" totaled 2,412.6 trillion won about (US$2.09 trillion) in January, compared with 2,264.6 trillion won a year earlier, the Bank of Korea (BOK) said in a statement.
Month-on-month, the money supply gained 0.1%, South Korea's News Agency (Yonhap) reported.M2 is a measure of the money supply counting the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It's a key economic indicator closely monitored by the authorities.
Source: QNA
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