RBI M3 Money Supply y/y measures a percentage change in the entire money supply circulating in Indian economy, in the reference month compared to the same month a year ago. It is a direct reflection of finances in the national economy.
The M3 Money Supply includes banknotes and coins in circulation, funds on settlement and current bank accounts, demand and savings deposits, institutional money market funds, repurchase agreements and debt securities. Of different monetary aggregates, M3 is the most stable. If, for example, only the savings interest rate changes, M1 and M2 are redistributed, but M3 remains constant.
In general, a positive relationship is assumed between the growth of money supply M3 and that of inflation, economic growth and income. This means that an insufficient money supply M3 has negative influences on the other three economic variables. An increase in M3 should therefore have a positive impact on the currency, as income and inflation will also increase as a result.
The chart of the entire available history of the "Reserve Bank of India M3 Money Supply y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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