At end-April 2002, broad money (M2) came in at ROL 286,064 billion, up 3.9 percent in nominal terms (1.9 percent in real terms) compared with the previous month. The increase in broad money resulted from the growth in both of its counterparts.
Net foreign assets grew by 1.2 percent to ROL 174,406 billion, due to the 1.4 percent rise under "Convertible currencies" and the broadly unchanged "Gold" component. The "Convertible currencies" component moved up on the back of the net foreign exchange purchases by the central bank from the forex market.
Net domestic assets stepped up 8.4 percent to ROL 111,657 billion. Domestic credit added 7.2 percent to ROL 166,455 billion, while the negative balance under other assets, net widened by 4.8 percent.
In April, non-government credit moved ahead 7.8 percent (12 percent real increase in the first four months of the year) to ROL 140,430 billion on the back of rises in both ROL and foreign-exchange-denominated loans, by 4.6 percent and 8,1 percent respectively. When expressed in ROL, the latter expanded by 10 percent.
Government credit, net rose 4.1 percent (to ROL 26,016 billion) as a result of the following developments:
(i) the drop in deposits both in ROL and foreign exchange of the Ministry of Public Finance with the National Bank of Romania;
(ii) the launching of government securities on the domestic market.
Narrow money (M1) went up 8 percent to ROL 60,373 billion, as a result of the 12.8 percent increase in currency outside banks (to ROL 37,683 billion) and the one percent growth in demand deposits (to ROL 22,690 billion).
Quasi-money stood 2.8 percent higher at ROL 225,690 billion. Household savings climbed 2.9 percent to ROL 72,443 billion, accounting for 25.3 percent of broad money against 25.6 percent at end-March, while government securities outstanding with households picked up 3.3 percent to ROL 18,088 billion.
Foreign-exchange deposits of households (when expressed in USD) stepped up 1.9 percent, to the equivalent of USD 1,838 million, while the volume of foreign-exchange government securities outstanding with households plunged by 57 percent to the equivalent of USD 42 million.
Corporate deposits in ROL moved 9 percent higher to ROL 34,319 billion. Time deposits advanced 10 percent to ROL 21,198 billion, restricted deposits moved up by 8.6 percent to ROL 6,252 billion, and certificates of deposit went 6.4 percent higher to ROL 6,868 billion.
Forex deposits of residents (including households) expressed in ROL rose by 1.1 percent to ROL 118,929 billion (when expressed in USD, forex deposits inched down by 0.5 percent to USD 3,556 million).
At end-April, non-banks held government securities worth ROL 39,253 billion (up 2.3 percent against March). Foreign-exchange government securities outstanding with non-banks amounted to the equivalent of USD 95 million, down 36.8 percent versus March.