Russian money base rises 1.9% in June

Russia's monetary base (broad definition) went up 1.88% in June from 1.51 trillion to 1.53 trillion rubles on July 1 2003, the Central Bank reported on its website. Currency issued (including cash held in bank vaults) went up 7.48% from 904.3 billion rubles to 971.9 billion rubles. Funds in correspondent bank accounts in the Central Bank dropped from 180.2 billion rubles to 165.4 billion rubles. The Central Bank obligation to buy back securities fell from 93.5 billion to 80.4 billion rubles. The money base includes Central Bank issued cash (including funds held in bank vaults); required reserve account balances, deposited by banks in the Central Bank; correspondent bank accounts and deposits in the Central Bank; bank investments in Central Bank bonds, and other Central Bank liabilities on national currency operations with banks. Broad definition monetary base dynamics reflects changes to money supply, formed by monetary financing regulation bodies.