OREANDA-NEWS. October 2, 2012. Belarus’ monetary base expanded 43.9% in January-August 2012 to 26.997 trillion Belarusian rubles (USD 3.2 billion at the NBB rate) as of September 1, 2012, the National Bank of Belarus (NBB) told.

Cash in circulation increased 53.3% to 10.29 trillion rubles (USD 1.2 billion). Cash in banks’ cash offices edged up 57.5% to 4.313 trillion rubles (USD 514.7 million) as of September 1, 2012.

Banks’ mandatory reserves in the central bank (including Br assets on correspondent accounts) edged up 44.2% to Br10.71 trillion (USD 1.2 billion) as of September 1, 2012.

Banks’ deposits account for Br1.58 trillion (USD 188.5 million) as of September 1, 2012, down 14.9% in comparison with the level of January 1, 2012. Deposits by other economic sectors stood at Br104.3 billion (USD 12.4 million), up 4.7 times since early this year.

As of September 1, 2011 Belarus monetary base was made up of cash in circulation 38%; cash in banks’ cash offices – 16%; banks’ mandatory reserves – 39.7%; banks’ deposits – 5.9%; deposits by other economic sectors (except for government deposits) – 0.4% precious stones and metals deposits – 0%.

As of September 1, 2012, deposits outside the monetary base and money supply went down 14.8% to 41.449 trillion rubles (USD 4.9bn).

Derivative financial instruments reduced 13.2% to total 12.117 trillion rubles as of September 1, 2012. Other liabilities to banks grew 3.3 times to 4.966 trillion rubles (USD 593m).

With all applicable liabilities taken onto account, the settlement rate of the Belarusian national currency to the U.S. dollar, under the IMF SDDS, was at 8,407.4 rubles to the dollar, 0.1% lower than the National Bank’s official rate as of September 1, 2012 (8,420 rubles).

In 2011 Belarus’ monetary base expanded 84.1% to 18.758 trillion rubles as of January 1, 2012.