Korea's money supply up 6.6% in April: BOK

The money supply in South Korea jumped 6.6 percent in April from a year earlier, the central bank said Tuesday.

The nation's "M2" totaled 2,450.2 trillion won ($2.16 trillion) in April, compared to 2,299 trillion won a year earlier, the Bank of Korea said in a statement.

Month-on-month, the money supply gained 0.6 percent, 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)