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Monetary base

Central Bank SurveyMonthlyRufiyaa (MVR)

Latest
MVR 13.3bn
Sep 2026
On a year earlier
+12.9%
same period last year
Trend growth, 10 years
2.1% a year
least-squares fit, R² 0.32

The whole record

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Source: Maldives Monetary Authority, via the Maldives Monetary Authority statistics database.

What the numbers say

Short term

The latest readings
  • The latest figure is MVR 13.3 billion for Sep 2026, up 4.4% from Aug 2026 and up 12.9% on the same month a year earlier.
  • The change on a year earlier averaged +15.6% over the last three months, against +3.8% in the three months before: the year-on-year pace has picked up.

Long term

The record as a whole
  • Trend growth over the past 10 years is 2.1% a year (least-squares fit on the logarithm; R² 0.32, a loose fit: the series has not followed a steady path, and this rate says little).
  • Measured end to end, compound growth is 0.9% a year over five years and 2.9% a year over ten.
  • The record high was MVR 14.83 billion in Feb 2019; the latest is 10.3% below it.
  • Year-on-year growth has typically varied by about 7.7 percentage points (one standard deviation) over the past five years.

How to read this series

Money supply. Narrow money is currency in circulation plus deposits that can be spent on demand; adding savings, time and foreign-currency deposits gives broad money. The dollarization ratio is the share held in foreign currency. The monetary base is the central bank’s own money: currency plus the reserves banks hold with it.

  • Shown in current prices (nominal). Part of any long-run rise reflects inflation rather than a larger real amount.
  • A stock: it is the amount outstanding at the end of each month, not activity during it, so periods are never added together.
  • Recent periods are often revised as fuller data arrive. The version comparison below shows what MMA has changed since this site began keeping copies.

MMA’s note: Sum of currency in circulation and reserve balances at the central bank (deposits held by other depository corporations and other sectors)

Terms such as percentage points, flows and stocks, and trend growth are explained in How to read the tracker.

What is driving it

How much each component added to, or took from, the total’s growth on a year earlier.

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Each bar segment is a component’s change over the year as a share of the total a year earlier, in percentage points; the segments add up to the line. Calculation by Good Morning Maldives from MMA data.
Components of Monetary base
Currency in circulationMVR 5.22bn
Liabilities to other depository corporationsMVR 8.08bn
Liabilities to other sectorsMVR 0

Revisions

Every copy of this series held by this site, overlaid, with the size of the latest revision for each period.

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Lines: each version of the series held by this site, newest solid. Bars: the newest version minus the one before it, for periods present in both.
Stored versions of Monetary base
2 (current)15 Oct 20267 Oct 2026Jan 1986 – Sep 2026100
16 Oct 20268 Sep 2026Jan 1986 – Aug 2026———

Sorted by Version, descending.

All figures

Every period on record, newest first. Sort by any column, filter, copy the table or download it as CSV.

Every observation of Monetary base
Sep 2026MVR 13.3 billion+12.9%
Aug 2026MVR 12.74 billion+15.7%
Jul 2026MVR 12.79 billion+18.2%
Jun 2026MVR 12.64 billion+2.1%
May 2026MVR 13.22 billion+11.7%
Apr 2026MVR 12.63 billion−2.5%
Mar 2026MVR 12.72 billion−0.8%
Feb 2026MVR 13.28 billion+3.2%
Jan 2026MVR 12.96 billion+13.7%
Dec 2025MVR 13.49 billion+16.5%
Nov 2025MVR 12.22 billion+9.9%
Oct 2025MVR 11.74 billion+10.9%
Sep 2025MVR 11.78 billion+4.7%
Aug 2025MVR 11.01 billion−3.1%
Jul 2025MVR 10.82 billion−2.1%
Jun 2025MVR 12.39 billion−1.1%
May 2025MVR 11.83 billion−2.8%
Apr 2025MVR 12.95 billion−0.9%
Mar 2025MVR 12.81 billion+4.0%
Feb 2025MVR 12.87 billion+6.4%
Jan 2025MVR 11.41 billion−11.3%
Dec 2024MVR 11.57 billion−8.5%
Nov 2024MVR 11.12 billion−8.4%
Oct 2024MVR 10.59 billion−10.0%
Sep 2024MVR 11.25 billion−10.9%
Aug 2024MVR 11.36 billion−10.6%
Jul 2024MVR 11.06 billion−6.1%
Jun 2024MVR 12.53 billion−2.8%
May 2024MVR 12.16 billion−8.6%
Apr 2024MVR 13.06 billion−0.8%

Sorted by Period, descending.

About this series

Source
Maldives Monetary Authority
Published by
MMA Statistics Database, series 2244
MMA table
Financial Sector › Central Bank Survey
Coverage
Jan 1986 to Sep 2026 · 489 observations
MMA updated
7 Oct 2026
Last checked
22 Oct 2026

The analysis is calculated by Good Morning Maldives from the published figures; it describes the data and is not a forecast.