Korea's money supply up 5.9% in June: BOK

The money supply in South Korea jumped 5.9 percent in June from a year earlier, the central bank said Wednesday.

The nation's M2 totaled 2,470.8 trillion won ($2.17 trillion) in June, compared to 2,334.2 trillion won a year earlier, the Bank of Korea said in a statement.

The money supply gained 0.4 percent on-month, the statement said.

The growth rate of the money supply has been on the decline since October 2015 as companies decreased domestic credit.

M2 is a measure of the money supply counting the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It's a key economic indicator closely monitored by the authorities. (Yonhap)