Currency-in-circulation dropped to N1.769 trillion at the end of July, compared with the N1.873 trillion position it was the previous month. However, while Banks’ Reserves increased to N3.446 trillion as at July, from N3.266 trillion, Quasi Money, which are highly liquid assets other than cash, that can be quickly converted, stood at N11.874 trillion as at the review month, from N11.790 trillion.

This was revealed by data gathered from the Central Bank of Nigeria’s (CBN) money and credit statistics for July 2017, obtained from its website.

Banking sector credit to the private sector increased year-on-year to N22.172 trillion at the end of July 2017, compared with the N21.978 trillion it stood at the end of June 2017.

Also, broad money (M2), which generally is made up of demand deposits at commercial banks and monies held in easily accessible accounts climbed year-on-year to N22.200 trillion as at July, from N21.674 trillion at the end of June.

Similarly, narrow money (M1), which includes all physical monies such as coins and currency along with demand deposits and other assets held by the central bank edged higher year-on-year to N10.325 trillion in the review month, as against the N9.883 trillion recorded the previous month.

SOURCE: https://brandspurng.com/currency-in-circulation-drops-to-n1-769-trillion/

ok

Okay... Somebody should please explain in a layman's language

Forward ever

.

To be honest, i started reading, got bored after 3 lines, scrolled down, booked a space, and modified it into this. Bye

Why the dropping? Them carry am go Switz?

ok

So far so Good, with time we will get there.
Slow and steady win the race.

Blessed father I thank you for this day you created and am happy to be among the living.


Let it continues to drop till 1$=#1

People no longer have money


Buhari sef

magoo10:
ok

froz:
ok

Generalkaycee:
.

Millz404:
H

nony43:
C

Real hustle!

Somebody pls enlighten me or explain better, what's the advantage of this? I no too know economics!

And what are we to do with this info?

Like say dem wan dash us money
Make we join u dey count billionaires' money.

Hw I wish I could boast of just 2% of d total estimation. God of possibility can do it oo.

Is rising above billionaire to trillionaire really an IMPOSSICANT?


I wan even ask sef ,,,does ritual money count too?



To doz ladies residing at Romance section, if I hear,,,,,say,,,,,all NL guys broke

Next

Nice

Whats the economic implication?

So that means CBN should mint more money right?

Very obvious

Kylekent59:
Blessed father I thank you for this day you created and am happy to be among the living.


Let it continues to drop till 1$=#1

You don't even understand the topic

It can only get better

Inflation gradually going down I guess

modelmike7:

Real hustle!

you wetin you come sell this morning?crayfish abi? jobless yoot

lonecatt:
you wetin you come sell this morning?crayfish abi? jobless yoot

¿?? What trash is this?! Better go back To bed

Good

In layman's terms is this a good thing for the economy ?? Na wetin we wan hear o.Not Quasi dis, liquid dat!