Makrognosis

South Africa Narrow Money (M1)

MonthlyNot seasonally adjustedCode ZA.M1.M.NSA

Latest (y/y)7.2%September 2026
Previous (y/y)9.1%August 2026
Level3,210,562 ZAR millionsSeptember 2026

South Africa Narrow Money (M1) was up 7.2% year on year in September 2026, compared with 9.1% in August 2026.

The level stood at 3,210,562 ZAR millions.

Among the 9 economies Makrognosis covers on this measure, it is the 2nd highest.

Over the past ten years it has ranged from 1.1% (May 2024) to 20.0% (Nov 2020), averaging 7.8%.

South Africa Narrow Money (M1), annual % change, Jan 1997 – Sep 2026−10%0%10%20%30%40%200020052010201520202025Robomacro
South Africa Narrow Money (M1), annual % change, Jan 1997 – Sep 2026. Source: South African Reserve Bank (SARB) Web API.
South Africa Narrow Money (M1), level (ZAR millions)0M1M2M3M200020052010201520202025Robomacro
South Africa Narrow Money (M1), level (ZAR millions).

Showing the full history (downsampled for display). Open the interactive chart to zoom and switch transforms.

Recent data

PeriodValueY/Y %
September 20263,210,562 ZAR millions7.2
August 20263,204,984 ZAR millions9.1
July 20263,000,540 ZAR millions2.4
June 20263,158,510 ZAR millions9.2
May 20263,140,298 ZAR millions14.2
April 20263,023,919 ZAR millions9.6
March 20263,157,977 ZAR millions9.8
February 20262,899,449 ZAR millions7.7
January 20262,905,951 ZAR millions7.7
December 20252,920,580 ZAR millions7.9
November 20253,063,608 ZAR millions13.5
October 20252,875,403 ZAR millions2.9
September 20252,994,582 ZAR millions6.5
August 20252,939,003 ZAR millions10.8
July 20252,929,391 ZAR millions6.8
June 20252,893,682 ZAR millions6.5
May 20252,749,394 ZAR millions6.2
April 20252,759,185 ZAR millions5.9
March 20252,877,354 ZAR millions9.9
February 20252,691,991 ZAR millions2.8
January 20252,698,455 ZAR millions2.9
December 20242,706,198 ZAR millions4.9
November 20242,698,341 ZAR millions3.6
October 20242,793,692 ZAR millions9.3

Last 24 observations. The full history (369 observations) is available through the API.

Get South Africa Narrow Money (M1) in your code or spreadsheet

One guessable code, agency-direct, updated on release. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/ZA.M1.M.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/ZA.M1.M.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
Get a free API key → · API docs

About this series

Latest observationSeptember 2026
First observationJanuary 1996
Observations369
FrequencyMonthly
UnitsZAR millions
AdjustmentNot seasonally adjusted
10-year high20.0% (Nov 2020)
10-year low1.1% (May 2024)
10-year average7.8%
Source agencySouth African Reserve Bank (SARB) Web API
Makrognosis codeZA.M1.M.NSA

Narrow Money (M1): how South Africa compares

#EconomyPeriodLatest
1MexicoSep 20267.9%
2South AfricaSep 20267.2%
3CanadaAug 20267.0%
4AustraliaSep 20266.4%
5SwitzerlandSep 20266.3%
6United StatesSep 20266.2%
7South KoreaAug 20264.2%
8BrazilSep 20263.2%
9JapanOct 2026−0.4%

Narrow Money (M1) by country: all 9 economies ranked →

Other South Africa indicators

South Africa GDP (Gross Domestic Product)South Africa Nominal GDP at market prices (ZAR million, SAAR, SARB QB)South Africa Inflation Rate (CPI)South Africa Unemployment RateSouth Africa 10-Year Government Bond YieldSouth Africa Credit Rating & Sovereign Risk ScoreSouth Africa Industrial ProductionSouth Africa Retail SalesSouth Africa Producer Price Inflation (PPI)South Africa Current Account Balance - Balance of Payments (NSA)South Africa Trade Balance: Goods & ServicesSouth Africa Exports of goods and services, constant 2015 prices, SA annualised (SARB Web API NRI6013D; Quarterly Bulletin KBP6013D)South Africa Total Exports of Goods Including Gold - SARS Customs (NSA)South Africa Imports of goods and services, constant 2015 prices, SA annualised (SARB Web API NRI6014D; Quarterly Bulletin KBP6014D)South Africa Total Imports of Goods - SARS Customs (NSA)South Africa Government Debt to GDP

FAQ

What is the current narrow Money (M1) in South Africa?
The latest reading is 7.2% year on year for September 2026, published by South African Reserve Bank (SARB) Web API.
Where does this data come from?
It is collected directly from South African Reserve Bank (SARB) Web API and is available through the Makrognosis API under the code ZA.M1.M.NSA.

Last updated 2026-10-29. Source: South African Reserve Bank (SARB) Web API. Original title: “South Africa M1 money supply (SARB)”.