Senegal: CFAF 498 billion increase in money supply

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Posted on 26.01.2019 at 13:18 by APA News

The money supply of Senegal recorded an increase of 497,50 billion FCFA (approximately 845,750 million dollars) at the end of October 2018 compared to the same period of the year 2017, learned APA Saturday with the Bank Central African States of West Africa (BCEAO) .This money supply stood at 4971 billion FCFA against 4474 billion FCFA in October 2017, an increase of 11.1% in relative value (1 FCFA equals $ 0.0017). This situation is mainly caused by the cash circulation which increased by 18.1% to 1188.60 billion FCFA.

Other deposits included in the money supply (plus 9.8% to 1601.90 billion) and transferable deposits (plus 8.6% to 2180.60 billion FCFA) also to a lesser extent contributed to the increase in mass monetary.

On a month-on-month basis, Senegal's money supply posted a slight increase of 1.2%, rising from 4914.60 billion CFA francs in September 2018 to 4971 billion CFA francs a month later. This trend is driven by both transferable deposits (over 2.4%) and fiduciary circulation (plus 1.4%). By contrast, other deposits included in the money supply edged down 0.7%.

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