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L$10,830 Million In Circulation - CBL
By Stephen N. Sonpon
MONROVIA, April 3 (LINA) - A total of 10.8 million Liberian dollars is in circulation, the Central Bank of Liberia (CBL) has reported.
The CBL 2016 Annual Report released recently stated that the amount indicates an expansion of 4.6 percent at the end of November 2016 from L$10,537 in December 2015.
The report attributed the increase in the circulation of the local currency to a 2.9 percent increase in currency outside banks.
It stated that the expansion of currency held by the public was historical as the festive Christmas season approached and is usually typical of higher customers’ outlay.
The report said the total currency in circulation at the end of the review period, currency in the public accounted for 91.7 percent, adding that the Monetary Policy stance of the CBL is aimed at the attainment of price stability through broad exchange rate stability.
CBL’s intervention in the foreign exchange market, the report aid, has been the readily available policy instrument to influence domestic monetary conditions in the economy.
According to the report, the GoL’s Treasury bills and Treasury bond are also aiding liquidity management as they helped to scale down excess liquidity in the banking system.
The report stated that CBL will remain strongly supportive of the national economic development agenda, particularly the agendum for financial inclusion, considering the need for access to finance by critical sectors of the economy, including agriculture and manufacturing.