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Money Supply Expanded 500 Bn Won YoY on Lunar New Year in February

NSP NEWS AGENCY, By Hyun-jin Kim and Soo-in Kang, 2024-02-09 11:33 ENX7
#BoK #LunarNewYearHolidays #MoneySupply #CashGift #Cash
NSP통신- (Table = BoK)
(Table = BoK)

(Seoul=NSP NEWS AGENCY) = Bank of Korea (BoK) said it issued about 500 billion won money than last year before the Korean Lunar New Year holidays, affected by the late holidays in February.

BoK calculated on February 8 that 4.7 trillion won of money (net issued=issued amount - returned) were supplied to financial institutions during 10 business days (January 26 to February 8) before the Lunar New Year holidays. The figure was about a YoY 500 billion won increase (11.1%).

BoK explained about the figure that “Typically, the amount of money issued tends to go up to meet higher demand at the end of a year and to decrease at the beginning of a year.” and added, “However, we have Lunar New Year holidays in February this year so that returned amount was relatively smaller than usual.”

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