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Definition

The total amount of money in the country. There are various methods for measuring the money supply, itemised and defined as "M0, M1, M2 and M3". Thus the broadest measure of the money supply is M3 - which includes M2 plus large time deposits, money market funds, large liquid assets and repurchase agreements. M2 is M1 plus savings deposits. M1 is notes and coins plus demand deposits and travellers cheques. M0 is just the physical notes and coins in circulation. So M0 is the narrowest definition of the money supply and M3 the broadest. In South Africa at the end of March 2020, M3 was R4072977 million. You can see a chart of M3 at <a href="https://tradingeconomics.com/south-africa/money-supply-m3">https://tradingeconomics.com/south-africa/money-supply-m3</a>.

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