UAE Central Bank announces M1 increased to AED 486 Billion

24 Feb

UAE Central Bank announces M1 increased to AED 486 Billion

The UAE Central Bank has announced that the Money Supply aggregate M1 increased by 0.1 percent, from AED 485.6 billion at the end of December 2018 to AED 486 billion at the end of January 2019.

The Money Supply aggregate M2 decreased by 0.2 percent, from AED 1308.4 billion at the end of December 2018 to AED 1305.5 billion at the end of January 2019.

The Money Supply aggregate M3 increased by 0.05 percent, from AED 1602.3 billion at the end of December 2018 to AED 1603.1 billion at the end of January 2019.

The increase in M1 was mainly due to an increase of AED 0.6 billion in Currency in Circulation outside Banks, overshadowing an AED 0.2 billion reduction in Monetary Deposits. The reduction in M2 was brought about by an AED 3.3 billion reduction in Quasi-Monetary Deposits, dominating the increase in M1.

M3 mainly rose due to an AED 3.7 billion increase in Government Deposits and an increased M1, overriding the reduction in M2.

Gross bank assets, including bankers’ acceptances, increased by 1.2 percent, rising from AED 2878 billion at the end of December 2018 to AED 2913.2 billion at the end of January 2019.

Gross credit also increased by 0.3 percent from AED 1656.6 billion at the end of December 2018 to AED 1662 billion at the end of January 2019.

During January 2019, total bank deposits fell by AED 1 billion AED, due to AED 0.1 billion and AED 0.9 billion decreases in Resident Deposits and Non-Resident Deposits, respectively.

 

Write a Reply or Comment