Pakistan's Money Supply Surges to a Record Rs35.18 trillion in November

Provisional records on Monetary Aggregates for November 2023, kept by the State Bank of Pakistan (SBP), show that the total amount of money in circulation within the economy up to that date was Rs35.18 trillion.

Up to October 2023, the total amount of money in circulation in the economy was Rs34.91 trillion, compared to Rs30.82 trillion in November of the previous year. This indicates that the money supply has increased by 0.78% MoM while jumping by 14.15% YoY year over year.

The SBP data, which divides the total money supply into broad categories, indicates that Rs8.39 trillion was circulated as notes and Rs18.33 trillion was allocated to transferable deposits, which are any deposits that may be exchanged at par on demand without penalty or limitation.

Due to the large informal sector, Pakistan's currency, which was more widely used than in other established and emerging nations, decreased by more than 0.2% month over month but increased by 10.67% annually.

In November 2023, other deposits made up Rs 5.27 trillion, down 0.69% month over month and up 15.3% year over year.

All claims supported by deposit evidence that are not transferable deposits in either domestic or foreign currency are referred to as other deposits.

Coins in circulation increased to Rs9.24 billion in November 2023 from Rs9.19 billion the month before and Rs9 billion in November 2022.