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Monetary Indicators by Years and Months
2011
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 1,248,359.6 1,224,545.7 1,183,231.8
M1- Narrow Money (Thousands GEL) 2,151,096.7 2,140,046.1 2,102,855.4
Reserve Money (Thousands GEL) 2,226,103.8 2,430,168.1 2,311,380.8
M2 -Broad Money (Thousands GEL) 2,568,897.1 2,559,175.0 2,520,699.1
2011
M3 -Broad Money (Thousands GEL) 6,074,712.8 6,038,254.8 6,011,808.5
M2 Dollarization Coefficient, % 72.6 72.3 72.3
M2 multiplier 1.15 1.05 1.09
Official International Reserves (Thousands US 2,413,276.2 2,519,379.8 2,717,701.3
dollars)
Refinancing Rate (Monetary Policy Rate), % 7.50 8.00 8.00
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2010
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 1,132,677.4 1,142,394.3 1,186,814.5 1,219,754.7 1,234,320.6 1,269,456.3 1,315,057.3 1,334,414.6 1,306,716.8 1,302,946.8 1,280,023.0 1,372,988.7
M1- Narrow Money (Thousands GEL) 1,753,117.9 1,830,727.4 1,935,658.2 1,998,815.2 1,985,316.9 2,049,132.2 2,117,393.7 2,128,383.5 2,107,206.2 2,129,592.9 2,233,818.2 2,325,877.2
M2 -Broad Money (Thousands GEL) 2,026,738.6 2,108,242.5 2,222,579.8 2,303,195.1 2,280,475.3 2,356,083.4 2,442,874.0 2,462,680.3 2,467,855.3 2,514,414.2 2,615,904.1 2,738,628.1
2010
M3 -Broad Money (Thousands GEL) 3,502,441.3 3,543,215.9 3,605,212.0 4,880,978.9 4,906,868.1 5,103,377.3 5,754,689.2 5,821,978.5 5,872,446.7 5,890,780.0 5,856,348.2 6,275,726.5
M2 Dollarization Coefficient, % 74.5 72.7 71.3 70.4 71.5 71.7 74.6 74.9 74.6 73.6 70.8 72.1
M2 multiplier 1.18 1.17 1.25 1.25 1.27 1.30 1.32 1.32 1.26 1.26 1.32 1.3
Official International Reserves (Thousands US
2,106,204.0 2,046,269.1 2,199,234.1 2,116,174.0 1,957,092.3 1,864,408.9 1,947,257.3 1,948,646.7 2,110,240.5 2,143,452.4 2,243,098.1 2,263,931.0
dollars)
Refinancing Rate (Monetary Policy Rate), % 5.00 5.00 5.00 5.00 5.00 6.25 6.50 6.50 7.00 7.50 7.50 7.50
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2009
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 996,266.1 966,188.1 968,646.2 1,027,410.3 1,011,612.6 1,026,754.2 1,081,585.4 1,090,988.3 1,101,248.4 1,110,999.4 1,100,695.6 1,229,436.1
M1- Narrow Money (Thousands GEL) 1,510,305.7 1,443,127.1 1,459,710.9 1,532,970.7 1,505,476.4 1,545,742.2 1,606,383.6 1,646,896.7 1,729,704.7 1,739,228.4 1,749,267.5 1,859,325.1
M2 -Broad Money (Thousands GEL) 1,721,403.4 1,644,894.6 1,650,536.5 1,703,650.9 1,679,462.7 1,723,653.6 1,796,195.0 1,850,550.6 1,932,951.0 1,966,403.0 2,004,754.8 2,139,451.9
2009
M3 -Broad Money (Thousands GEL) 4,045,248.1 3,921,734.0 3,725,642.2 3,553,415.0 3,571,732.1 3,646,503.6 3,802,869.0 4,020,235.0 4,153,117.0 4,287,392.0 4,264,626.6 4,656,774.6
M2 Dollarization Coefficient, % 76.2 77.0 75.3 73.2 73.9 73.4 73.7 74.1 72.8 73.1 71.4 73.4
M2 multiplier 1.3 1.1 1.1 1.1 1.0 1.0 1.0 1.0 1.1 1.1 1.1 1.1
Official International Reserves (Thousands US 1,335,830.4 1,269,325.9 1,493,108.1 1,476,027.7 1,530,375.5 1,518,203.7 1,632,579.5 1,788,341.4 2,009,955.6 2,030,508.6 2,052,635.6 2,110,413.5
dollars)
Refinancing Rate (Monetary Policy Rate), % 8.0 7.0 6.5 6.0 6.0 6.0 6.0 6.0 6.0 6.0 5.0 5.0
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2008
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 1,045,933.8 1,075,494.8 1,132,135.7 1,232,825.0 1,192,989.6 1,239,022.2 1,299,022.5 1,256,293.3 1,204,893.2 1,159,088.3 1,064,777.0 1,082,554.0
M1- Narrow Money (Thousands GEL) 1,784,314.4 1,735,897.5 1,873,615.5 1,972,955.2 1,908,847.4 1,936,815.8 2,030,338.5 1,913,182.2 1,895,346.6 1,829,330.5 1,636,515.3 1,625,245.4
M2 -Broad Money (Thousands GEL) 2,047,753.8 2,081,520.4 2,276,128.0 2,380,825.6 2,333,668.0 2,432,518.3 2,529,779.0 2,294,428.0 2,280,434.0 2,190,228.0 1,926,784.9 1,862,498.0
M3 -Broad Money (Thousands GEL) 4,056,922.0 3,993,356.3 4,075,932.1 4,333,892.0 4,206,603.2 4,234,084.4 4,373,549.0 3,941,205.0 4,017,809.0 3,936,563.0 3,966,081.8 4,305,126.0
M2 Dollarization Coefficient, % 66.9 65.5 61.2 63.0 62.2 60.2 60.0 61.4 61.8 62.9 70.3 75.8
2008
M2 multiplier 1.3 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.3 1.3 1.1
Official International Reserves (Thousands US
1,218,381.0 1,245,880.8 1,421,920.0 1,910,253.8 1,497,582.7 1,526,134.6 1,464,749.4 1,122,855.8 1,373,330.2 1,272,102.0 1,339,757.5 1,480,157.6
dollars)
7 Days Deposit Certificate Rate*, % 10.0 11.0 11.0 12.0 12.0 12.0 12.0 11.0
Refinancing Rate (Monetary Policy Rate), % 10.0 10.0 9.0 8.0
* Including 20th August 2008 for setting on Monetary Policy Rate was used 7 Days Deposit Certificate, After this date the Monetary policy Rate was determined by 7-days Refinancing Rate .
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2007
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 743,860.8 755,503.4 765,376.0 786,906.0 823,848.0 856,423.0 913,705.0 949,535.0 956,649.4 993,026.0 1,012,029.4 1,152,070.4
M1- Narrow Money (Thousands GEL) 1,211,045.0 1,212,087.9 1,262,143.7 1,320,366.7 1,402,941.0 1,470,834.4 1,593,930.6 1,676,080.8 1,710,087.3 1,733,547.8 1,804,391.5 1,846,576.2
M2 -Broad Money (Thousands GEL) 1,304,141.5 1,316,009.7 1,372,487.0 1,464,488.0 1,544,770.0 1,655,771.0 1,791,198.0 1,874,078.0 1,937,605.7 2,003,664.5 2,089,027.7 2,149,311.1
2007
M3 -Broad Money (Thousands GEL) 2,613,986.8 2,753,554.1 2,705,882.0 2,895,427.0 2,999,459.0 3,281,910.0 3,442,747.0 3,650,827.0 3,748,029.1 3,836,583.7 3,931,101.3 4,027,468.7
M2 Dollarization Coefficient, % 70.0 71.9 68.7 67.9 66.9 67.0 65.3 65.8 64.9 64.5 63.1 65.6
M2 multiplier 1.1 1.1 1.2 1.1 1.1 1.2 1.2 1.2 1.2 1.3 1.3 1.2
Official International Reserves (Thousands US 944,569.4 986,716.1 1,018,970.6 1,054,278.4 1,114,160.5 1,220,729.5 1,336,062.5 1,360,970.2 1,469,799.6 1,510,431.1 1,355,160.6 1,361,139.9
7 Days
dollars)Deposit Certificate Rate*, % 10.0 - - - - 5.0 - - - - - -
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2006
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 685,795.4 692,107.8 712,598.2 717,900.5 715,216.7 733,340.9 749,753.6 756,052.7 776,625.0 758,865.6 743,278.2 827,357.2
M1- Narrow Money (Thousands GEL) 976,370.6 970,864.1 997,749.9 1,054,176.7 1,055,258.5 1,148,225.6 1,142,990.3 1,134,805.2 1,166,920.6 1,138,510.4 1,116,456.1 1,267,151.2
M2 -Broad Money (Thousands GEL) 1,055,535.1 1,057,216.6 1,092,520.0 1,147,522.5 1,158,489.6 1,258,674.0 1,255,727.6 1,260,433.3 1,279,668.4 1,247,728.8 1,242,778.3 1,392,848.6
2006
M3 -Broad Money (Thousands GEL) 1,956,060.8 1,986,756.6 2,023,117.3 2,187,069.2 2,185,566.5 2,307,292.9 2,346,358.9 2,397,622.3 2,448,024.2 2,468,321.9 2,524,548.6 2,689,886.7
M2 Dollarization Coefficient, % 70.9 71.8 71.0 70.8 69.9 66.6 68.3 69.3 69.9 71.4 72.0 69.6
M2 multiplier 1.1 1.0 1.1 1.1 1.1 1.2 1.1 1.1 1.1 1.1 1.0 1.1
Official International Reserves (Thousands US 477,387.0 462,352.8 483,457.6 479,645.1 525,209.3 546,894.2 569,710.2 596,495.8 630,472.2 628,326.3 715,014.4 930,833.4
dollars)
7 Days Deposit Certificate Rate*, % 10.7 8.0 4.3 - - 6.4 10.0 9.0 11.5 12.3 11.9 12.0
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2005
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 577,768.1 601,686.0 613,121.0 644,084.1 628,245.6 640,134.5 668,163.2 686,582.4 689,613.6 702,862.5 688,231.3 736,284.2
M1- Narrow Money (Thousands GEL) 759,223.5 784,735.9 792,235.9 832,882.0 814,057.3 857,458.1 882,181.5 929,476.2 928,983.2 952,923.7 958,514.2 999,740.8
M2 -Broad Money (Thousands GEL) 787,579.8 809,440.3 818,035.9 861,120.2 847,808.6 894,494.9 921,353.1 972,659.4 987,143.5 1,018,411.7 1,043,038.6 1,071,038.6
M3 -Broad Money (Thousands GEL)
2005
1,443,562.8 1,484,313.8 1,512,412.3 1,601,587.3 1,599,309.3 1,643,987.7 1,697,074.9 1,781,527.1 1,824,446.6 1,883,967.2 1,921,280.6 1,924,918.7
M2 Dollarization Coefficient, % 75.8 76.5 77.2 77.3 77.4 74.7 75.4 73.9 73.8 73.3 71.2 71.8
M2 multiplier 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.1 1.1 1.1 1.1
Official International Reserves (Thousands US 408,265.0 405,450.9 384,368.2 463,997.3 455,404.3 442,635.4 426,159.7 453,374.0 450,574.5 442,442.2 477,938.6 478,645.8
7 Days Deposit Certificate Rate*, % - 4.3 5.0 4.3 2.6 2.9 4.7 5.1 5.0 7.7 10.8 11.5
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2004
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 416,332.6 422,558.6 436,985.3 436,871.0 451,379.5 470,243.5 480,328.8 510,526.4 541,939.5 539,511.7 542,182.4 615,992.5
M1- Narrow Money (Thousands GEL) 501,911.6 521,804.9 537,116.9 533,560.3 559,305.9 582,367.5 611,973.4 657,604.5 694,710.3 698,248.7 714,399.5 819,487.7
M2 -Broad Money (Thousands GEL) 513,560.9 544,126.2 552,861.5 546,482.3 571,696.7 597,947.7 627,453.9 677,741.3 716,231.2 718,157.4 736,892.2 847,168.8
M3 -Broad Money (Thousands GEL) 1,092,703.1 1,095,956.6 1,131,582.7 1,112,748.1 1,188,717.9 1,196,799.5 1,268,681.2 1,284,761.7 1,334,850.4 1,355,724.7 1,381,492.6 1,521,573.4
2004
M2 Dollarization Coefficient, % 85.6 81.9 83.3 83.8 83.7 82.4 81.3 78.4 78.0 78.1 76.8 74.5
M2 multiplier 0.9 0.9 0.9 0.9 0.9 0.9 1.0 0.9 0.9 0.9 0.9 1.0
Official International Reserves (Thousands US
193,920.9 196,811.5 212,514.4 217,948.4 236,483.5 276,240.7 284,092.9 343,688.4 365,243.4 348,545.0 381,574.1 386,639.1
dollars)
7 Days Deposit Certificate Rate*, % 18.2 - 16.2 16.0 15.8 13.6 - - 6.0 4.0 3.9 3.1
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2003
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 365,056.6 376,396.3 372,834.2 390,263.0 382,292.4 374,884.9 398,084.5 416,448.5 411,734.9 434,622.4 430,534.1 441,535.5
M1- Narrow Money (Thousands GEL) 439,148.7 446,347.0 438,444.1 453,926.7 451,003.8 441,446.8 472,289.4 493,182.1 491,882.5 515,727.0 503,195.6 516,920.8
M2 -Broad Money (Thousands GEL) 449,558.5 457,237.6 448,274.1 463,945.4 460,598.6 450,671.6 482,732.8 504,174.1 504,981.8 525,660.2 514,011.5 527,559.0
M3 -Broad Money (Thousands GEL) 885,176.6 900,948.4 893,164.7 920,235.9 935,816.6 933,594.0 987,081.3 1,037,299.0 1,062,130.5 1,076,711.5 1,057,537.0 1,068,850.5
2003
M2 Dollarization Coefficient, % 83.8 84.6 85.5 86.1 85.9 86.4 85.6 85.9 85.7 85.8 86.7 86.3
M2 multiplier 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9
Official International Reserves (Thousands US
194,129.4 193,695.6 190,301.1 182,095.4 188,031.3 188,868.3 189,158.1 200,204.8 197,358.7 193,613.6 194,104.2 196,187.8
dollars)
7 Days Deposit Certificate Rate*, % 14.0 17.0 16.7 15.1 - 14.9 - 15.0 14.0 12.4 22.2 21.1
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2002
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 344,638.0 352,034.2 346,286.3 347,515.6 346,735.6 345,150.0 351,042.5 362,621.2 355,732.4 359,237.1 365,916.1 390,791.1
M1- Narrow Money (Thousands GEL) 392,037.5 398,369.6 396,792.4 399,922.8 402,303.6 394,158.9 406,864.6 419,524.4 408,467.2 420,521.5 425,559.4 452,844.5
M2 -Broad Money (Thousands GEL) 401,133.5 407,300.1 406,329.4 409,786.2 412,392.8 405,126.4 416,480.8 431,041.8 420,825.8 429,933.6 434,912.0 462,397.5
2002
M3 -Broad Money (Thousands GEL) 741,062.6 751,848.6 763,448.0 764,324.0 756,675.3 773,970.5 787,373.1 812,403.5 805,142.0 803,684.8 830,343.2 870,222.2
M2 Dollarization Coefficient, % 85.7 86.2 85.6 85.1 84.0 86.0 85.0 84.8 85.5 84.1 85.1 85.1
M2 multiplier 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9
Official International Reserves (Thousands US 154,673.7 153,156.0 148,933.4 143,590.7 145,319.0 146,717.1 180,817.6 186,466.4 182,356.5 197,532.4 198,790.8 202,167.4
dollars)Deposit Certificate Rate*, %
7 Days - - - - - - - - 31.0 - 22.8 19.8
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2001
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 290,252.5 290,543.4 294,918.1 297,770.0 297,557.8 300,508.8 322,334.1 330,427.9 321,781.7 330,359.9 330,479.7 348,850.3
M1- Narrow Money (Thousands GEL) 339,563.6 338,023.1 337,982.7 340,830.3 344,678.1 353,687.6 374,205.8 381,766.1 374,034.1 387,333.8 390,439.1 394,230.2
M2 -Broad Money (Thousands GEL) 345,768.7 343,799.1 345,956.7 348,114.9 353,302.6 363,212.6 384,107.9 392,073.0 384,631.3 397,284.8 399,948.7 403,960.4
2001
M3 -Broad Money (Thousands GEL) 591,000.9 585,157.6 600,462.4 607,931.3 614,095.2 640,904.4 658,530.8 689,897.6 694,112.5 720,703.5 712,142.7 737,990.4
M2 Dollarization Coefficient, % 41.5 41.2 42.4 42.7 42.5 43.3 41.7 43.2 44.6 44.9 43.8 45.3
M2 multiplier 0.9 0.9 1.0 1.0 1.0 0.9 0.9 0.9 0.9 1.0 1.0 0.9
Official International Reserves (Thousands US 117,389.3 113,225.5 119,586.8 121,784.3 119,100.5 120,539.9 126,621.6 130,230.1 132,446.6 132,843.9 141,314.2 161,939.3
7 Days Deposit Certificate Rate*, % 5.3 6.0 - - - - 5.0 - - 6.0 - -
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
2000
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 227,517.6 225,111.1 233,925.5 241,513.4 231,348.5 234,619.5 257,144.3 263,272.6 269,520.3 267,000.3 268,216.8 315,179.1
M1- Narrow Money (Thousands GEL) 261,442.7 264,490.9 275,756.2 274,317.1 272,348.1 272,940.8 302,322.1 312,850.4 316,232.5 325,736.1 326,301.9 369,092.4
M2 -Broad Money (Thousands GEL) 268,680.2 272,065.1 283,232.4 283,137.6 280,462.5 281,270.5 312,638.3 323,590.8 325,788.0 334,592.0 334,958.6 379,716.8
M3 -Broad Money (Thousands GEL)
2000
426,891.2 433,085.7 447,078.3 455,676.7 469,942.4 474,201.9 521,422.3 546,447.1 566,064.9 568,186.1 572,470.0 607,697.1
M2 Dollarization Coefficient, % 79.4 77.4 76.9 80.6 79.4 80.5 79.0 78.7 81.0 77.6 78.1 77.9
M2 multiplier 0.9 0.9 0.9 0.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Official International Reserves (Thousands US 127,367.0 123,076.7 130,480.6 114,521.7 114,339.3 122,316.1 114,808.1 124,763.9 130,775.8 127,639.0 129,982.6 115,965.9
dollars)
7 Days Deposit Certificate Rate*, % 26.9 23.0 18.3 14.3 14.0 18.0 16.2 14.0 13.5 8.2 5.4 -
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
1999
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 226,874.6 220,651.0 206,901.0 212,913.0 214,654.1 211,622.8 226,182.3 240,099.6 240,910.9 259,112.9 234,347.3 243,996.6
M1- Narrow Money (Thousands GEL) 264,258.0 254,101.5 241,680.2 246,765.5 250,174.4 247,201.5 261,996.1 274,091.7 277,552.8 296,340.9 269,061.8 274,916.6
M2 -Broad Money (Thousands GEL) 273,739.5 264,822.9 251,502.3 254,470.7 259,467.5 255,005.8 269,705.7 281,335.4 284,497.0 302,813.9 275,851.0 282,610.9
1999
M3 -Broad Money (Thousands GEL) 402,131.3 415,990.5 398,643.4 389,549.8 400,827.6 407,739.2 409,332.6 430,513.9 433,353.0 448,692.1 435,808.3 436,593.0
M2 Dollarization Coefficient, % 73.3 77.4 76.7 76.5 75.9 77.9 76.2 78.3 77.4 76.9 79.4 80.0
M2 multiplier 1.0 1.0 1.0 1.0 0.9 1.0 1.0 0.9 0.9 0.9 0.9 0.9
Official International Reserves (Thousands US 235,736.4 118,214.3 113,702.3 104,680.3 101,655.0 102,242.3 98,782.6 177,176.2 178,434.1 170,948.7 166,861.4 144,363.9
dollars)Deposit Certificate Rate*, %
7 Days 40.0 32.5 32.4 32.0 32.9 31.5 30.6 29.0 28.3 27.0 27.3 27.0
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
1998
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 214,530.7 210,752.5 211,810.4 219,749.5 221,466.1 220,694.2 233,626.7 230,411.3 198,859.4 183,578.8 168,783.8 212,185.0
M1- Narrow Money (Thousands GEL) 256,525.3 255,306.6 253,122.2 261,879.9 264,382.3 265,306.3 275,384.5 279,543.3 238,350.1 215,997.1 196,090.8 250,224.0
M2 -Broad Money (Thousands GEL) 274,085.7 271,974.3 269,708.7 278,267.1 279,494.8 281,170.7 290,726.1 294,085.3 252,002.5 228,501.2 207,101.8 259,801.5
M3 -Broad Money (Thousands GEL) 356,404.9 357,700.1 357,759.4 366,641.9 375,346.8 379,148.8 388,500.7 394,644.5 345,015.5 320,765.8 295,096.6 364,869.9
1998
M2 Dollarization Coefficient, % 58.0 58.3 60.3 60.2 62.3 61.8 63.1 61.2 63.6 67.3 69.7 68.8
M2 multiplier 1.1 1.1 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Official International Reserves (Thousands US
190,635.2 179,733.7 172,546.9 168,808.6 157,813.6 140,659.3 124,542.1 164,124.8 133,741.6 120,222.9 97,828.8 132,881.2
dollars)
7 Days Deposit Certificate Rate*, % 35.9 24.2 36.9 32.1 27.0 15.9 22.3 18.9 35.3 52.0 72.0 -
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
1997
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 160,374.7 157,924.8 158,215.1 171,225.6 166,288.4 168,531.0 183,949.7 194,723.2 202,260.7 205,446.6 209,062.0 239,690.6
M1- Narrow Money (Thousands GEL) 197,441.3 190,438.2 195,793.8 205,044.9 202,864.7 202,106.1 222,022.0 242,019.3 248,172.5 249,795.5 253,847.6 277,751.8
M2 -Broad Money (Thousands GEL) 206,743.5 200,554.7 207,559.0 218,569.7 215,814.3 215,270.6 235,437.4 254,971.3 263,642.3 261,744.3 267,432.7 294,862.6
1997
M3 -Broad Money (Thousands GEL) 241,540.1 236,960.5 246,400.1 259,620.7 256,417.6 262,262.5 283,806.2 311,484.6 324,970.0 329,038.7 338,546.6 370,361.8
M2 Dollarization Coefficient, % 42.9 46.1 44.0 46.4 45.1 50.1 48.4 48.4 50.0 54.4 54.9 57.8
M2 multiplier 1.0 1.0 1.0 1.0 1.0 1.0 1.1 1.0 1.1 1.0 1.1 1.1
Official International Reserves (Thousands US 166,561.9 146,899.8 136,594.5 157,422.5 136,572.1 130,022.8 129,051.0 127,464.4 129,441.4 171,584.3 204,871.4 201,708.7
dollars)Deposit Certificate Rate*, %
7 Days 14.2 16.0 16.0 16.0 16.0 - 21.3 20.9 13.8 15.6 19.7 33.1
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
Monetary Indicators by Years and Months
1996
I II III IV V VI VII VIII IX X XI XII
Money Outside Banks (M0) (Thousands GEL) 120,330.8 117,944.8 120,039.0 123,071.0 126,072.1 130,458.0 145,654.0 160,651.5 171,144.7 184,666.2 195,797.5 176,733.1
M1- Narrow Money (Thousands GEL) 144,247.3 142,632.6 144,437.5 152,587.3 155,593.0 166,718.4 180,456.7 197,081.1 211,750.3 221,889.6 234,092.1 212,442.1
M2 -Broad Money (Thousands GEL) 149,661.3 148,213.1 150,261.5 158,469.5 161,533.3 173,124.3 186,976.8 204,246.4 218,761.2 229,853.3 241,794.6 220,744.5
M3 -Broad Money (Thousands GEL) 169,648.1 171,092.3 171,776.4 179,044.8 186,655.0 200,012.1 213,637.8 233,015.7 249,688.2 262,096.7 276,843.7 255,744.5
1996
M2 Dollarization Coefficient, % 40.5 43.0 41.6 36.8 41.5 38.7 39.2 39.8 39.4 41.6 43.2 44.3
M2 multiplier 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.1
Official International Reserves (Thousands US 187,670.6 171,785.8 196,635.9 177,920.3 168,932.3 196,010.8 192,815.0 184,186.6 160,507.3 182,898.4 161,904.8 191,373.4
dollars)
7 Days Deposit Certificate Rate*, % 25.1 34.2 46.4 44.9 43.2 27.3 16.2 15.2 14.3 13.0 13.7 13.0
Refinancing Rate (Monetary Policy Rate), %
Source: National Bank of Georgia.
