MOSCOW, June 14 (RIA Novosti) - Russia's broadly-defined monetary base increased 16.4% month-on-month in May 2007 to 5,347 billion rubles ($207 billion), the country's Central Bank (CBR) said on its Web site Thursday.
Broad money supply expanded 29.7% in the first five months of 2007, the CBR said.
According to the Central Bank terminology, broad money supply consists of cash in circulation, credit institutions' correspondent accounts with the CBR, required reserves, bank deposits in the CBR and the bank's bonds held by credit institutions, and also the Central Bank's obligations to buy back securities and required reserves on foreign exchange operations deposited with the Central Bank.
