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As of August 1, 2004, Russia's monetary base was 1,849,200,000,000 rubles
As of August 1, 2004, Russia's monetary base (in a broad definition) was 1,849,200,000,000 rubles ($1 equals 29.29 rubles). It dropped by 3.7% over July and by 3.4% since the year's start. The figures were published by the Central Bank on its web site. The monetary base (in a broad definition) comprises cash in circulation, lending institutions' correspondent accounts at the Central Bank, required reserves, banks' deposits at the Central Bank, the latter's bonds owned by lending institutions, and the Central Bank's repurchase liabilities. Money in circulation, including bank balances (and excluding till cash at Central Bank institutions) as of August 1, 2004 totaled 1,000,395,700,000 rubles. The amount of money in circulation fell by 3.3% over July, while since early 2004 it rose 14%. The amount of money on lending organizations' correspondent accounts at the Central Bank (ruble accounts, including funds on organized stock market and the correspondent account of the Agency for the Restructuring of Credit Organizations) fell by 6.3% to 209 billion rubles on August 2004 compared to July 1, 2004. The overall amount of money on lending organizations' correspondent accounts at the Central Bank dropped by 31.5% since the year's start. The required reserves (banks' funds accumulated on ruble and foreign currency accounts) totaled 132,600,000,000 rubles as of the beginning of August. Compared to early July the amount fell by 47.2% and by 50.4% since the start of 2004. Banks' deposits at the Central Bank totaled 32,400,000,000 rubles as of August 1, 2004. The amount dropped by 15.6% compared to July 1, 2004 and approximately 2.7-fold since January 1, 2004. The Central Bank's security repurchase liabilities amounted to 79,500,000,000 rubles on August 1, 2004. The liabilities rose by 42% compared to July 1 and 2.6-fold compared to the year's start.
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