Cup Match money supply rises
Created: Jul 30, 2008 11:00 AM
The amount of Bermuda Dollar notes and coins in circulation over the Cup Match weekend jumped almost six percent to $131.7 million, the Bermuda Monetary Authority reported today.
In 2007, there was a total of $124.3 million at the same period last year, an increase of 5.95 percent.
The total amount of notes and coins issued to the banks by the Bermuda Monetary Authority between 1st July and 30th July (the traditional pre-Cup Match period) was $3.2 million, the BMA said, adding that Cup Match and Christmas are traditionally time periods when the figures for notes and coin in circulation rise sharply. This seasonal peak is normally reversed very quickly after the holiday.