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This entry, also know as "M1," comprises the total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy, measured at a specific point in time. National currency units have been converted to US dollars at the closing exchange rate for the date of the information. Because of exchange rate movements, changes in money stocks measured in national currency units may vary significantly from those shown in US dollars, and caution is urged when making comparisons over time in US dollars. Narrow money consists of more liquid assets than broad money and the assets generally function as a "medium of exchange" for an economy.
$173.4 billion (31 December 2010 est)
$175.6 billion (31 December 2009 est)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$172.9 billion (31 December 2010 est)
$178.7 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$4.907 billion (31 December 2010 est)
$4.038 billion (31 December 2009 est)
note: this number reflects the vastly overvalued official exchange rate of 5.38 kyat per dollar in 2007; at the unofficial black market rate of 1,305 kyat per dollar for 2007, the stock of kyats would equal only US$2.465 billion and Burma's velocity of money (the number of times money turns over in the course of a year) would be six, in line with the velocity of money for other countries in the region; in 2009, the unofficial black market rate averaged 1,090 kyat per dollar.
$4.341 billion (31 December 2010 est)
$4.602 billion (31 December 2009 est)
note: this figure represents the US dollar value of Cypriot pounds in circulation prior to Cyprus joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the EMU; individual members of the EMU do not control the quantity of money circulating within their own borders
$5.542 trillion (31 December 2008)
$5.649 trillion (31 December 2007)
note: this is the quantity of money, M1, for the euro area, converted into US dollars at the exchange rate for the date indicated; it excludes the stock of money carried by non-euro-area members of the European Union
$108 billion (31 December 2010 est)
$110.4 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$858.6 billion (31 December 2010 est)
$862.3 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$1.627 trillion (31 December 2010 est)
$1.681 trillion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$152.8 billion (31 December 2010 est)
$172.8 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$127.7 billion (31 December 2010 est)
$141 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$1.234 trillion (31 December 2010 est)
$1.267 trillion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$120.8 billion (31 December 2010 est)
$121 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$5.195 billion (31 December 2010 est)
$4.956 billion (31 December 2009 est)
note: this figure represents the US dollar value of Maltese liri in circulation prior to Malta joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the EMU; individual members of the EMU do not control the quantity of money circulating within their own borders
$368.1 billion (31 December 2010 est)
$351.6 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$98.23 billion (31 December 2010 est)
$100.9 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$34.37 billion (31 December 2010 est)
$34.1 billion (31 December 2009 est)
note: this figure represents the US dollar value of Slovak koruny in circulation prior to Slovakia joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$10.47 billion (31 December 2010 est)
$10.33 billion (31 December 2009 est)
note: the figure for 2006 represents the US dollar value of tolars in circulation prior to Slovenia joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$849.2 billion (31 December 2010 est)
$856.5 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
$NA (31 December 2009 est.)
$2.151 million (31 December 2008 est)
note: the money data for Zimbabwe for 2007 reflected the vastly overvalued official exchange rate of 30,000 Zimbabwe dollars per US dollar; at an unofficial rate of 800,000 Zimbabwe dollars per US dollar, the stock of Zimbabwe dollars, narrowly defined, would equal only about US$500 million and Zimbabwe's velocity of money (the number of times money turns over in the course of a year) would be nine, in line with the velocity of money for other countries in the region
The online Factbook is updated weekly. ISSN 1553-8133
For additional information on government leaders in selected foreign countries, go to World Leaders.
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