LIBERIA: CBL Says L$8,639 million In Circulation In 2014

The Central Bank of Liberia (CBL) reports that the total amount of Liberian dollars in circulation at the end of November, 2014 stood at L$8,639.3 million, reflecting a decline from L$9,468.0 million at the end of December, 2013.
Of the total money in circulation, currency in the hands of the public accounted for 83.8 percent down from 87.4 percent at the end of 2013, according to the CBL Annual Report covering January 1 to December 31, 2014 released recently.
The report indicated that the fall of the currency was on account of a 12.5 percent plunge outside banks which offset a 16.9 percent growth of currency in banks.
“The reduction in currency outside banks signifies the effect of the CBL’s on-going effort to mop up Liberian dollars to mitigate the pressure in the foreign exchange market,” the report noted.
The conduct of monetary policy by CBL, the report continued, has been directed towards containing inflation through a more stable exchange rate.
The report pointed out that the apex bank continues to issue CBL notes “to mop up excess Liberian dollar liquidity in order to maintain exchange rate” and limit the pass-through to domestic prices.

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