The monetary base in the narrow definition includes the cash issued by the Bank of Russia (taking into account the balance of funds in the cash offices of the credit organizations) and the balances on the accounts of obligatory reserves on the funds attracted by crediting organizations in the national currency and deposited in the Bank of Russia.
VOLUME OF MONETARY BASE IN NARROW DEFINITION SHRINKS IN RUSSIA
MOSCOW, APRIL 2, 2004. (RIA NOVOSTI) - The volume of the monetary base in the narrow definition as of March 29, 2004 made up 1,458.5 billion rubles against 1,471.2 billion robles on March 22, 2004, reports the press-release of the Bank of Russia RIA Novosti received on Friday. Thus, the volume of the money supply plummeted by 12.7 billion rubles.