Tugrug deposits down by 600 billion MNT, foreign currency deposits up by 114 billion MNT

Money supply (M2) reached 26.4 trillion MNT at the end of March 2022, an increase of 993.8 million MNT (3.9 percent) from the same period of the previous year.

The following impacted the growth:

• Tugrug-linked current accounts up by 1.3 trillion MNT (37.1 percent)

• Foreign currency-linked current accounts increased by 500.4 billion MNT (22 percent)

Low money supply (M1) reached 5.7 trillion MNT at the end of March 2022, an increase of 182.5 billion MNT (3.3 percent) from the previous month and 1.3 trillion MNT (30.5 percent) from the same period of 2021. Of the M1 supply, 4.9 trillion MNT (87.2 percent) is from tugrug-linked current accounts and 726.9 billion MNT (12.8 percent) is non-depository money.

At the end of March 2022, according to the preliminary results, the money supply reached 20.8 trillion MNT, decreasing by 16.4 billion MNT (0.1 percent) from the previous month and by 331.7 billion MNT (1.6 percent) from the same period of last year.

At the end of March, tugrug-linked deposits amounted to 13.7 trillion MNT, decreasing by 600.5 billion MNT (4.2 percent) from the previous month and by 665.6 trillion MNT (4.6 percent) from the same period of last year. Exactly 90.5 percent (12.4 trillion MNT) of tugrug-linked deposits are individual deposits and 9.5 percent (1.3 trillion MNT) are corporate deposits.

Foreign currency deposits stood at 4.3 trillion MNT, rising by 114.1 billion MNT (2.7 percent) from the previous month, but declining by 166.6 billion MNT (3.7 percent) from the same period of 2021.