Narodowy Bank Polski

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Money supply in April 2017

Publication date: 12-05-2017

In April 2017, the M3 money supply rose by PLN 3.0bn. The increase in money supply resulted from a rise in banks' claims on enterprises and households. Money-absorbing processes, on the other hand, included a decline in the net debt of the central government sector.

According to the preliminary data released by NBP on 12 May 2017 the M3 aggregate, reflecting the total supply of money, stood at PLN 1256.4bn at the end of the month, i.e. PLN 3.0 more than at the end of March 2017.

The stock of cash outside banks' vaults rose by PLN 3.0bn or 1.7%, to reach PLN 176.1bn. The April rise in cash in circulation is a seasonal pattern, related, above all, to increased demand for this form of money before the long May weekend. Since the beginning of this year, the stock of corporate funds on bank accounts has been diminishing – in April, the decline was PLN 2.2bn, i.e. 0.9%.

The stock of corporate debt rose by PLN 6.4bn, i.e. 1.8%, to reach PLN 352.1bn, while household debt increased by PLN 1.8bn, or 0.3%, up to PLN 666.4bn. Banks' claims on government institutions decreased by PLN 5.3bn (or 2.3%), down to the level of PLN 221.0bn.

See full money supply data

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Reference rate 1.50
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Table of 2017-08-16
1 EUR4.2724
1 USD3.6435
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