TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Money circulation rises 13.1% in June: BI
Bank Indonesia (BI) data shows that the amount of money circulating across the archipelago throughout June 2014 increases by 13
Change Size
B
ank Indonesia (BI) data shows that the amount of money circulating across the archipelago throughout June 2014 increases by 13.1 percent compared to the same month last year to reach Rp 3.86 quadrillion (US$328.24 billion).
Meanwhile, compared to May 2014, the figure grew by 10.5 percent.
BI communication department's executive director, Tirta Segara, said that the components consisted of third-party funds in the form of deposits in rupiah, foreign currencies and checking accounts.
'The yearly growth of third-party funds in May 2014 reached 10.3 percent in May 2014 while year-on-year in June grew 14
percent. On the other hand, growth in banknotes and checking accounts in rupiah was 10.2 percent in June," Tirta said in Jakarta as quoted by kontan.co.id on Monday.
He said the increase in money circulation was triggered by a rise in net foreign assets.
Meanwhile, net domestic assets recorded slower growth than foreign assets as fewer bank loans were approved.
Meanwhile, interest rates on deposits and bank credit in June 2014 increased.
The average interest rate on one-month, three-month, six-month and one-year term deposits were 8.29 percent, 9.11 percent, 8.98 percent and 8.28 percent, respectively, in June, rising from 8.17 percent, 8.74 percent, 8.82 percent and 8.06 percent, respectively, in May.
'The rise in interest rates follows the average credit interest rate, which increased from 12.75 percent in May 2014 to 12.77 percent in June 2014," he added. (nfo)
