M2 money supply in Qatar surges 3.35% to QR632.92bn in March

Money supply (m2) in Qatar increased by 3.35% to QR632.92bn in March 2022, on an annual basis, compared to QR612.417bn in March 2021, according to data issued on Thursday by the Qatar Central Bank (QCB). The data attributed the annual rise in the money supply in last March to the rise in the value of quasi-money to QR471.827bn, driven by the growth of foreign currency deposits to QR183.360bn, while time deposits witnessed a decline to QR288.467bn, compared to March 2021. The money supply (m1) rose last month to QR161.095bn, driven by the increase in the value of demand deposits, which amounted to QR147.239bn, compared to an increase in issued cash to about QR13.856bn. Changes in the money supply are usually monitored by workers in the public and private sectors because of its impact on the level of prices, inflation, the exchange rate and the economic cycle in general, reports QNA.