Complex Made Simple

Deposits increase to $490 million during week: Bank of Lebanon

“Dollarisation” of money supply ratio decreased to 57.84 per cent by September 24

Total deposits, with the exception of demand deposits, recorded an increase of roughly LBP 137 billion ($491.05 million) during the week ending last September 24, due to a $2m increase in foreign currency deposits, in addition to the increase in deposits in Lebanese pounds by LBP135bn.

Thus, the money supply (M3) increased by about LBP551bn ($365.27m) during the same week to reach LBP183.968bn ($122.04bn), an increase of 5.22 per cent, compared with the same period in 2014 and an increase of 3.70 per cent since the beginning of this year.

In a related context, the “dollarisation” of the money supply ratio decreased from 58.01 per cent through September 17, to 57.84 per cent by September 24, while interbank interest stabilised at 2.75 per cent by the end of August 2015, Aliqtisadi reports.

It is worth mentioning, that the M3 in the Central Bank of Lebanon increased as much as LBP452bn, ($299.97m), during the two weeks ending September 17 to reach LBP 183.417bn ($121.67bn).

(LBP 1 = AED0.0024, at the time of publishing)