Complex Made Simple

Total deposits in Central Bank of Lebanon increase by LBP48 billion

Cash in circulation shrank by as much as LBP62bn, equivalent to $41.13 million

The Central Bank of Lebanon’s total deposits rose by as much as LBP48 billion, the equivalent of $31.89 million the week ending October 16, 2015.

Cash in circulation shrank by as much as LBP62bn, equivalent to $41.13 million, reports UAE-based Aliqtisadi.

Money Supply M3 decreased to LBP 35bn, the equivalent of $23.40 million during the week ending October 1, 2015 to reach LBP183.933bn, equivalent to $122.01bn, as it advanced by 5.12 per cent, compared with the same period last year, and increased by 3.68 per cent since the beginning of the year.

Meanwhile, Money Supply M1 increased during the same period by LBP83bn, or $55.29 million, following the decline in under demand deposits by as much as LBP145bn, equivalent to $96.19 million.

This increase comes as a result of a decline in foreign currency deposits, estimated at $59 million and an increase in deposits in Lebanese pounds by as much as LBP137bn.

(LBP1 = AED 0.0024, at the time of publishing)