S. Korea's money supply up 6.1 pct in May: BOK

SEOUL, July 12 (Yonhap) -- The money supply in South Korea jumped 6.1 percent in May from a year earlier, the central bank said Wednesday.

The nation's M2 totaled 2,454.3 trillion won (US$2.13 trillion) in May, compared with 2,312.8 trillion won a year earlier, the Bank of Korea (BOK) said in a statement.

The money supply gained 0.3 percent on-month, the statement said.

The growth rate of the money supply has been on the decline since October 2015 as companies decreased domestic credit.

M2 is a measure of the money supply counting the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It's a key economic indicator closely monitored by the authorities.

entropy@yna.co.kr
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