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(LEAD) Money supply in S. Korea continues to rise in Nov.

All Headlines 14:41 January 16, 2020

(ATTN: ADDS more details in para 6, photo)

SEOUL, Jan. 16 (Yonhap) -- South Korea's money supply continued to rise in November on a hike in funds held by local households, central bank data showed Thursday.

The country's M2 came to 2,893.1 trillion won (US$2.49 trillion) as of the end of November, up 0.7 percent from the 2,874.3 trillion won tallied a month earlier, according to the data from the Bank of Korea (BOK).

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

A photo of 50,000-won notes (Yonhap)

The country's M2 has been on a steady increase since September 2018, when it inched down 0.1 percent from the month before.

From a year earlier, the M2 jumped 7.7 percent, accelerating from a 7.5 percent on-year rise in October.

The November reading marks the fastest growth since March 2016, when the corresponding figure was 7.8 percent, according to the central bank.

The increase was partly attributed to an increase in funds held by households and nonprofit organizations, which added 12 trillion won from a month earlier to reach about 1,493 trillion won at the end of November.

Money held by local companies gained 3 trillion won, rising to 770 trillion won over the cited period.

bdk@yna.co.kr
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