South Korea’s money supply extended its upward trend in June, according to preliminary data released Friday by the Bank of Korea. The country’s key M2 measure averaged 4,213 trillion won, equivalent to about $2.97 trillion, up 0.7% from the previous month. The monthly increase came to 29.4 trillion won. The central bank said the rise was driven by growth in short-term deposits and money market funds, which mainly invest in short-term financial products. It also said the M2 measure has been climbing steadily since November last year. The latest figures point to continued expansion in liquidity conditions during June, based on the bank’s preliminary count.
South Korea’s money supply continued to increase in June, according to preliminary data released Friday by the Bank of Korea, with gains driven by short-term deposits and money market funds.
The country’s key M2 measure, a core gauge of money supply, averaged 4,213 trillion won in June, or about $2.97 trillion. That was up 0.7% from the previous month, an increase of 29.4 trillion won.
The Bank of Korea said short-term deposits rose in June, while money market funds, which mainly invest in short-term financial products, also increased. The M2 measure has maintained a steady upward trend since November last year.
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