The amount of Bermuda dollars in circulation during the holiday period will be nearly 14 percent higher than last year.

Financial regulator the Bermuda Monetary Authority (BMA) said yesterday that money supply over Christmas and New Year would be $143 million. That compares to $125.6 million 12 months ago, an increase of 13.9 percent.

This compares to $118.6 million in 2006 and $113.6 million at the same point in 2005, but represents a similar increase of almost 13 percent between 2005 and 2004, when the figure was $100.8 million. The total net amount of notes and coins issued to the banks by the BMA between December 1 and December 23 was $16.8 million versus $13 million during the same period in 2007.

The Authority said Christmas was traditionally a period when the figure for notes and coins in circulation rises, with the seasonal peak is normally reversed quickly after the holiday.