20.09.201009:34:00UTC+00Latvia Aug. M3 Money Supply Grows

Latvia's M3 money supply increased in August from the previous year, a report by the central bank showed on Monday.

The M3 money supply, which indicates the amount of cash and non-cash currency in the economy, rose 10.6% year-on-year in August, faster than a 8% growth in the previous month.

The amount of cash in circulation increased by 1% in August, compared to a 2.3% growth in the previous month. There was an increase in the bank-attracted overnight deposits, as well as the term deposit in August, the bank said. The balance on domestic deposits grew 9.1%, while the rate of the annual decrease in lending was 7.4%.

On a monthly basis, the M3 money supply grew 1.3% in August, while the domestic loans rose 1%.

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