near money

(redirected from Quasi Money)
Also found in: Financial.
Related to Quasi Money: money supply, fiat money

near money

n
(Banking & Finance) liquid assets that can be converted to cash very quickly, such as a bank deposit or bill of exchange
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As we reviewed in our November 2018 issue, liquidity in the banking system is in two forms; money (cash) and quasi money. Money is the short-term deposits and saving accounts with no interest which can be converted to cash immediately while long-term deposits are the main form of quasi money with a slower conversion rate to cash.
This sharp increase in M2 was largely due to growth in Quasi Money, particularly deposits in foreign currencies, the report said adding much of this increase took place during the second half of 2017.
by ONABroad money supply M2 (M1 plus quasi money) stood at OMR16.4 billion at the end of March 2018 and grew by 2.8 per cent during the same period.
QNB analysts said,"We expect Qatar's on-going investment programme to continue to attract expatriates, resulting in overall population growth of 4.1 percent in 2016.The broad money (M2) growth has picked up to 3.4 percent in December on the continued rise in quasi money growth.
M1 (cash and demand deposits) growth remained robust at 14.4 per cent y/y but quasi money (FX and longer term riyal deposits) declined -0.5 per cent on an annual basis in April; the first y/y decline since November 2011.
During the same period, quasi money grew 9.3 percent.
As for the increase in quasi money, this came as a result of a rise in non-current deposits made in local currency in the amount of EGP 19.5 billion, at a rate of 3.1 per cent, and deposits made in foreign currency by EGP 2.1 billion at a rate of 1.1 per cent.
In October - quasi money, including funds held in time and savings deposits, margins and foreign currency deposits - rose 34.7 percent to 5.23 billion rials, the data showed.
Quasi money grew 18.5pc in February to 15.54bn dinars - down from a 28.4pc rise.
M2 has grown at an exceptionally high rate in the first nine months of 2007, which is primarily attributed to the increase in private sector time and savings deposits (Quasi Money) as well as monetary deposits.
Quasi money, which measures cash in bank accounts other than demand deposits, jumped 36.7 per cent to dhs349.76 billion at the end of September, driven by a 40.2 per cent jump in dirham deposits to dhs236.96 billion.
The supply of quasi money shrank 3.4% to 366.9 trillion yen, also following a 3.4% contraction in August.