Stock of narrow money:
Definition: This entry, also known as "M1," comprises the total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy, measured at a specific point in time. National currency units have been converted to US dollars at the closing exchange rate for the date of the information. Because of exchange rate movements, changes in money stocks measured in national currency units may vary significantly from those shown in US dollars, and caution is urged when making comparisons over time in US dollars. Narrow money consists of more liquid assets than broad money and the assets generally function as a "medium of exchange" for an economy.
Source: CIA World Factbook - This page was last updated on Friday, November 27, 2020
