OREANDA-NEWS. On February 18, 2008 as was informed by the National Bank of Moldova, the growth of monetary base was due to increase in net external assets of the National Bank of Moldova by 5113,6 million leis or 62,8%.

The main factor affecting growth of the monetary base became acquisition of foreign currency at the inter-bank currency market by NBM. At the same time, in 2007, net internal assets decreased by 2088,7 million leis, or 2,3 times in comparison with 2006.

According to NBM, the volume of money in circulation increased by 29,5% - from 5145,8 million up to 6664,9 million leis. By the end of 2007, share of money in circulation reduced by 9,1 points - from 79% up to 69,9%.

At the same time, the share of bank reserves increased from 21% up to 30%. By the end of 2007, M2 cash supply (money in circulation + deposits in leis) amounted to 18396,7 million leis, increasing by 5911,5 million leis or 47,3%.

At the same time, M3 cash supply (M2 + deposits in foreign currency) grew by 7786,2 million leis or 39,8% and reached 27344,2 million leis by the end of December 2007. The increase in M3 cash supply was due to the growth in net internal assets of the banking system by 5547,5 million leis or by 55% and net external assets of the banking system by 2238,7 million leis or 23,6%.

The share of deposits in foreign currency and money in circulation declined by 3,5 and 1,9 points, amounting to 32,7% and 24,4%, respectively, and share of deposits in the national currency increased by 5,4 points – up to 42,8%.