Money Supply in Circulation Reaches Rp1 Quadrillion in November 2024

Money in circulation tends to increase in the run-up to the 2024 Christmas and New Year celebrations.

According to a Bank Indonesia (BI) report, cash outside commercial banks and Rural Banks (BPR) in November 2024 reached Rp1 quadrillion for the first time in history, as shown in the graph.

This amount circulating in the community increased by Rp31.94 trillion (3.29%) compared to the previous month (month-to-month/mtm). The amount also grew by Rp108.84 trillion (12.2%) compared to the same month of the previous year (year-on-year/yoy).

In the BI report, broad money supply (M2) reached Rp9.18 quadrillion in November 2024. This value grew by 7% (yoy), driven by the growth of narrow money (M1) by 9.1% (yoy) and quasi money by 2.3% (yoy).

Broad money (M2) consists of narrow money (M1), quasi money, and securities other than shares.

The following is a breakdown of money in circulation in the broad and narrow sense in November 2024:

Broad Money (M2): Rp9,175.8 trillion

1. Narrow Money (M1): Rp5,157.7 trillion
1.a- Cash Outside Commercial Banks and BPR: Rp1,002 trillion
1.b- Rupiah Giro Accounts: Rp1,820.3 trillion
1.b.- Electronic Money: Rp13.7 trillion
1.c- Demand Deposits in Rupiah: Rp2,335.4 trillion
2. Quasi Money: Rp3,910.7 trillion
2.a- Time Deposits (IDR and Foreign Currency): Rp2,947 trillion
2.b- Other Savings Accounts (IDR & Foreign Currency): Rp277.1 trillion
2.c- Foreign Currency Giro Accounts: Rp686.6 trillion
3. Securities Other Than Shares: Rp107.3 trillion.