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Japan's monetary base climbs 7.6% in Nov.

12-02-2010 16:14 BJT

TOKYO, Dec. 2 (Xinhua) -- Japan's monetary base climbed 7.6 percent in November from year earlier, marking the 27th straight month of growth, the Bank of Japan (BOJ) said in a report on Thursday.

According to the BOJ, the average daily balance, which comprises cash in circulation and the balance of current account deposits held by financial institutions at the central bank, totaled 99.19 trillion yen (1.78 trillion U.S. dollars).

The current account balance surged 47.3 percent year-on-year to 17.58 trillion yen (208.81 billion dollars), including a 44.4 percent jump in reserve balances.

Banknotes in circulation increased 1.8 percent to 77.10 trillion yen (915.79 billion dollars) from a year earlier, although coins in circulation fell 0.4 percent on year to 4.51 trillion yen (53.56 billion dollars).

Japan's monetary base refers to the amount of currency that is either circulated in the hands of people living in Japan or in domestic commercial bank deposits held in the central bank's reserves. This measure of the money supply typically only includes the most liquid currencies.

The Japanese administration maintains a measure of control over the monetary base by buying and selling government bonds in the open market.

Editor:Du Xiaodan |Source: Xinhua

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