OREANDA-NEWS. May 11, 2009. In March 2009, monetary base in Moldova has decreased by 14,5% (1 billion 499,5 million leis), amounting to 8 billion 832,3 million leis.

According to the National Bank of Moldova, this reduction was due to the decline in the net external assets by 2 billion 209.2 million leis (17.1%) due to the sales of currency by NBM. At the same time, in March, the net internal assets of NBM increased by 709.7 million leis (27.5%).

The amount of money in circulation has decreased from 6 billion 346.4 million leis in February 2009 up to 5 billion 612 million leis in March. The share of money in circulation has increased from 61.4% in February 2009 up to 63,5% in March. At the same time, the share of the banks’ reserves has declined from 38.6% up to 36.5%.

Money mass M2 has decreased by 2 billion 296.8 million leis (11.8%) - up to 17 billion 164.9 million leis. At the same time, money mass M3 has reduced by 1 billion 568.5 million leis (5.3%) and as of late March amounted to 28 billion 116,2 million leis. Reduction of M2 was due to the decrease in volume of money in circulation by 734.4 million leis (11.6%), the balance of deposits in leis by 1 billion 560.4 million leis (11.9%) and other money market instruments by 2 million leis (25.4%).

According to NBM, foreign currency deposits of residents (expressed in leis) increased by 728.3 million leis (7.1%). Expressed in USD, they have grown by US40.4 million (4.2%). The share of deposits in foreign currency, converted into leis, grew from 34.4% in February 2009 up to 39% in March. Net international (convertible) reserves of the banking system declined by US 202.8 million, reaching US 823.6 million.

Net international reserves of NBM declined by US234.6 million, while the banks’ reserves grew by US 31.8 million.