Money supply rises by 4%
Created: Jul 29, 2009 11:00 AM
The amount of Bermuda dollar notes and coins in circulation over the Cup Match holiday will be will be higher this year compared to last, despite the economic downturn and a contraction of the Island's job market.
A total of $137.2 million will be on release this holiday weekend, up by four percent from $131.7 million in 2008.
But the value of notes and coins issued to the banks by the Bermuda Monetary Authority between July 1 and July 28 (the traditional pre-Cup Match period) was down 30 percent at $9.3 million from the $13.2 million issued in Cup Match 2008.