End-July money supply hits record P6 trillion

The expansion in credits to the domestic sector and adjustments in the special deposits accounts (SDA) facility drove the country’s money supply to reach the record high of P6 trillion at end-July, the Bangko Sentral ng Pilipinas (BSP) said over the weekend.

Under the Standardized Report Forms (SRFs) format, domestic liquidity (M3) grew by 30.1 percent year-on-year at end-July, faster than the 20-percent expansion recorded in the previous month, making July 2013 M3 growth the highest on record since December 2002, the BSP said.