Table 11 : Components and Sources of Reserve Money

(End of Period)

(Rs Million)

Jun-97

Dec-97

Jun-98

Sep-98

Nov-98

Dec-98

Jan-99

Feb-99

Components of Reserve Money

1. Currency with Public

4,307

5,411

4,651

4,812

4,972

5,833

5,147

5,027

2. Currency with Banks

1,168

1,885

1,384

1,456

1,865

2,226

1,785

1,702

3. Demand Deposits with Bank of Mauritius

4,248

1,630

2,547

2,436

2,410

1,702

2,846

2,849

Reserve Money (1+2+3)

9,723

8,926

8,582

8,704

9,247

9,761

9,778

9,578

Sources of Reserve Money

1. Net Foreign Assets of BoM

17,163

15,341

14,869

14,121

12,658

13,867

15,188

15,368

2. Net BoM Credit to Government

678

1,415

2,319

3,118

5,254

4,697

3,923

3,845

3. BoM Credit to Non-Bank Financial Institutions

259

379

476

530

574

570

559

554

4. Net Non-Monetary Liabilities

8,377

8,209

9,082

9,065

9,239

9,373

9,892

10,189

Reserve Money (1+2+3-4)

9,723

8,926

8,582

8,704

9,247

9,761

9,778

9,578

Broad Money Multiplier @

6.2

7.6

8.3

8.3

7.9

7.7

7.8

8.1

@ Defined as the ratio of Broad Money to Reserve Money.

Figures may not agree with Table 12.