Maldives broad money declined in May 2024, registering a total of MVR 58.9 billion according Maldives Monetary Authority (MMA).
As per the central bank statistics, broad money’s lowest level was recorded in May whereas it had generally remained at MVR 60 billion level in the months before that. The peak was in April, with broad money total reaching MVR 60.86 billion.
Broad money is the total money supply available in the country. This includes banknotes, coins and money in form that can easily be converted into case – meaning they are highly liquid. Broad money is also the sum of the total narrow money and quasi money available in the economy.
Narrow money is the actual physical currency available in the economy; which are banknotes and coins. Quasi money are non-cash assets, but are easily converted into cash.
Narrow money total in May stood at MVR 23.1 billion, while quasi money total stood at MVR 35.8 billion.