ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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MONEY AND BANKING- Currency Expansion

Currency Expansion (By a Special Correspondent) CONTINUING the upward trend, money stock (M1) recorded a massive expansion of Rs. 691 crore or 2.4 per cent in May 1983, the first month of the conventional slack season. This was far higher than the increase recorded in May 1982 but less than the expansion of Rs 812 crore in April this year. With a me of Rs 566 crore, the currency component accounted for as much as 82 per cent of the monetary expansion inv the month as against 59 per cent last year. Even on an average basis, the share of currency has been preponderant at about 61 per cent of total money supply (M,) as of end-May or about 40 per cent of M3

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