{"id":36454,"date":"2020-10-22T09:33:00","date_gmt":"2020-10-22T09:33:00","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=36454"},"modified":"2020-10-22T09:33:29","modified_gmt":"2020-10-22T09:33:29","slug":"currency-in-circulation-climbs-to-n2-426tn-cbn","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=36454","title":{"rendered":"Currency in circulation climbs to N2.426tn \u2013CBN"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/i3.wp.com\/www.ripplesnigeria.com\/wp-content\/uploads\/2018\/08\/Naira.jpg\" alt=\"Naira depreciates to N362.30 despite CBN\u2019s $210m forex intervention\"\/><\/figure>\n\n\n\n<p>The total currency in circulation rose to N2.426 trillion in September, 2.4% or N56.44 trillion higher than the N2.369 trillion recorded in August, figures obtained from the Central Bank of Nigeria (CBN) website on Wednesday showed.<\/p>\n\n\n\n<p>As of the end of May, the figure stood at N2.35 trillion but advanced to N2.39 trillion at the end of July.<\/p>\n\n\n\n<p>Currency in circulation represents the amount of cash within a country that is physically used to conduct transactions between consumers and businesses, and which is issued by the central bank. It does not include cash that has been removed from the system.<\/p>\n\n\n\n<p>Quarter on quarter, currency in circulation contracted by 6% to N2.29 trillion at the end of March, relative to a 7.5% drop in the corresponding period of 2019.<\/p>\n\n\n\n<p>Comprehensive\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/r\/reserveratio.asp#:~:text=The%20reserve%20ratio%20is%20the,as%20the%20cash%20reserve%20ratio.\">cash reserve ratio<\/a>\u00a0debits on banks that fell short of policy directives enlarged the monetary authority\u2019s liabilities to other depository bodies and ramped up reserve money in May, the CBN monthly economic report for May stated.<\/p>\n\n\n\n<p>Reserve money scaled up by 5.9% to N12.96 trillion in contrast to a growth rate of 20.7% reported in April.<\/p>\n\n\n\n<p>\u201cThe heightened uncertain outlook due to the lockdown encouraged more cash to be held by the public.<\/p>\n\n\n\n<p>\u201cThis was evident from the increase in currency in circulation, compared with the level in the preceding month.<\/p>\n\n\n\n<p>\u201cCurrency in circulation rose by two per cent to N2.35tn at the end of May 2020, compared with the increase of 0.5 per cent at the end of April 2020,\u201d the report said.<\/p>\n\n\n\n<p>It added that liabilities to other depository corporations soared by 70.5% to N10.61 trillion, relative to the previous month\u2019s growth rate, which was 59.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The total currency in circulation rose to N2.426 trillion in September, 2.4% or N56.44 trillion higher than the N2.369 trillion recorded in August, figures obtained from the Central Bank of Nigeria (CBN) website on Wednesday showed. As of the end of May, the figure stood at N2.35 trillion but advanced to N2.39 trillion at the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[21,35],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Currency in circulation climbs to N2.426tn \u2013CBN &raquo; WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=36454\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=36454#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=21\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Currency in circulation climbs to N2.426tn \u2013CBN\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Currency in circulation climbs to N2.426tn \u2013CBN &raquo; WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=36454","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=36454#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Economy","item":"https:\/\/watchdogplusmedia.com\/?cat=21"},{"@type":"ListItem","position":3,"name":"Currency in circulation climbs to N2.426tn \u2013CBN"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=21\" rel=\"category\">Economy<\/a> <a href=\"https:\/\/watchdogplusmedia.com\/?cat=35\" rel=\"category\">Finance<\/a>","rttpg_excerpt":"The total currency in circulation rose to N2.426 trillion in September, 2.4% or N56.44 trillion higher than the N2.369 trillion recorded in August, figures obtained from the Central Bank of Nigeria (CBN) website on Wednesday showed. As of the end of May, the figure stood at N2.35 trillion but advanced to N2.39 trillion at the&hellip;","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/36454"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36454"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/36454\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}