Money in circulation reached IDR 8.97 quadrillion in July 2024
![](https://photos.idnfinancials.com/d/1600x900/Big%20Stock/bigstock-Wallet-and-Money-66148192%20%28Copy%29.jpg&nc)
JAKARTA – Broad money (M2) in circulation was reported reaching IDR 8.97 quadrillion in July 2024, up 7.4% year-on-year (yoy) from July 2023. However, this number was seen corrected from IDR 9.01 quadrillion seen in June 2024, up 7.75 yoy from June 2023.
From broad money (M2) analysis report quoted Friday (23/8), the realisation of broad money growth resulted from narrow money (M1) growth of IDR 4.94 quadrillion and quasi-money growth of IDR 3.93 quadrillion.
For the record, broad money comprises narrow money, quasi-money, and securities other than shares. Narrow money includes currency outside commercial and rural banks, rupiah demand deposits, electronic money, and savings that could be withdrawn at any time. Meanwhile, quasi-money includes time deposits, other saving deposits, and demand deposits (all in rupiah and foreign currency).
Several factors that play into money supply include credit disbursement and net claims on central government. Credit disbursement in July 2024 grew 11.6% yoy, whereas net claims of monetary system on central government in July 2024 increased 15.8% yoy. Lastly, net foreign assets were seen contracted 0.1% yoy from July 2023.
Third-party funds (DPK) reportedly increased 7.5% yoy, as well, to IDR 8.39 quadrillion in July 2024. It consists of demand deposits of IDR 2.51 quadrillion, saving deposits of IDR 2.76 quadrillion, and term deposits of IDR 3.11 quadrillion.
DPK growth rate in July 2024 was lower than in June 2024, which reported 8.2% yoy growth from June 2023. In June 2024, DPK consisted of demand deposits of IDR 2.57 quadrillion, saving deposits of IDR 2.75 quadrillion, and term deposits of IDR 3.10 quadrillion. (LK/ZH)