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Money supply in S. Korea continues to rise in Nov.

12:00 January 16, 2020

SEOUL, Jan. 16 (Yonhap) -- South Korea's money supply continued to rise in November on a hike in funds held by local households, central bank data showed Thursday.

The country's M2 came to 2,893.1 trillion won (US$2.49 trillion) as of the end of November, up 0.7 percent from the 2,874.3 trillion won tallied a month earlier, according to the data from the Bank of Korea (BOK).

M2 is a measure of the money supply that counts the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It is a key economic indicator closely monitored by the authorities.

The country's M2 has been on a steady increase since September 2018, when it inched down 0.1 percent from the month before.

From a year earlier, the M2 jumped 7.7 percent, accelerating from a 7.5 percent on-year rise in October.

The increase was partly attributed to an increase in funds held by households and nonprofit organizations, which added 12 trillion won from a month earlier to reach about 1,493 trillion won at the end of November.

Money held by local companies gained 3 trillion won, rising to 770 trillion won over the cited period.



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