Over August, the M3 broad monetary aggregate in Lithuania increased by LTL 244.6 million (EUR 70.9 million) and its annual growth rate was 3.6 percent at the end of the month, the Statistics Department of the Bank of Lithuania reports.
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The major impact on the increase in M3 stemmed from an increase in overnight deposits (LTL 575.7 million/EUR 166.9 million) and deposits redeemable at notice of up to 3 months (LTL 17.5 million/EUR 5.07 million), while it was reduced by a fall in currency in circulation (LTL 308.4 million/EUR 89.4 million), deposits with agreed maturity of up to 2 years (LTL 21.8 million/EUR 6.3 million) and debt securities up to 2 years (LTL 18.5 million/EUR 5.36 million).

Domestic credit grew by LTL 183.7 million (EUR 53.2 million) over the month as a result of an increase in credit to other residents by LTL 369.6 million (EUR 107.1 million) and a fall in credit to general government by LTL 185.9 million (EUR 53.9 million). MFIs' (monetary financial institutions) net external assets contracted by LTL 2.4 million (EUR 0.7 million) in August and amounted to LTL 12.9 billion (EUR 3.74 billion).

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