TOKYO, Feb. 2 (Xinhua) -- The monetary base in Japan rose 4.9 percent in January from a year earlier, according to a Bank of Japan (BOJ) report released on Tuesday.

The monetary base stood at 98.07 trillion yen (1.081 trillion U. S. dollars), up from 97.21 trillion yen (1.052 trillion dollars) in December.

Banknotes in circulation were down an annual 0.2 percent, according to the central bank, while coins in circulation fell 0.7 percent year on year.

The current account balance was up 43.4 percent, including a 38. 2 percent annual increase in reserve balances. Currents account deposits at the central bank increased 53.6 percent in December.

The BOJ's seasonally adjusted figures revealed on Tuesday the monetary base climbed 13.4 percent in January to 95.43 trillion yen (1.052 trillion dollars).

Japan's monetary base refers to the amount of currency that is either circulated in the hands of people living in Japan or in domestic commercial bank deposits held in the central bank's reserves. This measure of the money supply typically only includes the most liquid currencies.

The Japanese administration maintains a measure of control over the monetary base, by buying and selling government bonds in the open market.