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Thu 23 Dec 2010 04:53 PM

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Qatar's Nov M1 money supply rises 19.7% from year ago

M2 money supply growth jumped 25.9 percent from a year ago, central bank says

Qatar's Nov M1 money supply rises 19.7% from year ago
M1 GROWTH: Qatar’s M1 money supply growth rose an annual 19.7 percent in November to QR66.87bn,

Qatar’s M1 money supply growth, a measure that excludes longer-term deposits and money-market funds, rose an annual 19.7 percent in November to QR66.87bn, the central bank said in an e-mailed statement on Thursday.

M2 money supply growth jumped 25.9 percent from a year ago, while M3 rose 26 percent, according to a Bloomberg report.

The M1 money supply is a measurement of the total amount of currency in circulation. It consists of paper currency and coins, plus publicly held checking accounts.

M2 is a measure of total money supply. M2 includes everything in M1, in addition to savings and other time deposits.

M3 includes M1 and M2 plus large-denomination time deposits and balances in institutional money funds, repurchase agreements, and eurodollars.

Qatar's vibrant natural gas sector will propel the country to a 20 percent growth rate next year, the International Monetary Fund said earlier this week.

Despite this runaway expansion, inflation will remain subdued at 3 percent, the fund said.

IMF said that the main risk to the fund's robust outlook for Qatar, is a sharp drop in the price of natural gas.

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