OREANDA-NEWS. On May 07, 2008 as it was informed in NBM, monetary base growth was due to increase in net internal assets of NBM.

According to NBM, amount of money in circulation grew from 6348,4 million leis in February 2008 up to 6367,5 million leis in March 2008.

In structure of monetary base, stock of money in circulation declined from 68,9% in February 2008 up to 68% in March 2008. At the same time, the share of banking reserves increased from 31,1% up to 32%.

In March 2008, monetary mass M2 increased by 106,1 million leis (0,6%) - up to 19114,5 million leis.

At the same time, M3 monetary mass grew by 128,5 million leis (0,5%) and reached 28476,5 million leis by the end of March.

The increase in M2 was due to growing volume of cash in circulation by 19,1 million leis (0,3%), the balance of deposits in national currency - by 86,1 million leis (0,7%), as well as the balance of money market instruments by 0,9 million leis (19,9%).

According to NBM, deposits of residents in foreign currency (expressed in leis) increased by 22,4 million leis (0,2%).

Expressed in USD, they increased by \\$ 48,1 million (5,8%). The share of deposits in foreign currency converted into leis amounted to 32,9% in March, remaining at the level of February 2008.

Net international (convertible) reserves of the banking system increased by \\$ 22 million, reaching \\$ 1093,8 million. Net international reserves of NBM grew by \\$ 36,3 million and banks – declined by \\$ 14,3 million.