Bank Indonesia: Total Money Supply Until The End Of October Rp7,490.7 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) reported that the money supply in a broad sense (M2) in October 2021 was recorded at Rp7,490.7 trillion.

Head of the BI Communications Department Erwin Haryono said the book grew 10.4 percent year-on-year (yoy), or higher than the previous month's 8.2 percent yoy.

"Economic liquidity or money supply in a broad sense will increase in October 2021," he said in an official statement, Tuesday, November 23.

According to Erwin, the increase was driven by the acceleration of growth in the narrow money supply (M1) by 14.6 percent yoy and quasi money which grew by 6.0 percent yoy.

"M2 growth in October 2021 is influenced by net foreign assets and net domestic assets," he said.

In detail, he explained that net foreign assets grew 5.7 percent yoy, higher than the growth in September 2021 of 5.0 percent yoy.

Then, net domestic assets grew 12.1 percent yoy, up from 9.3 percent yoy in the previous month, driven by higher growth in net claims to the central government and lending.

Erwin also said net bills to the central government grew 30.4 percent yoy, an increase compared to the previous month's 16.1 percent yoy.

Meanwhile, the upward trend in lending is claimed to continue, growing by 3.0 percent yoy in the month under review, increasing from the previous month's growth of 2.1 percent yoy.