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FINANCIAL NEWS
UAE’s money supply up towards late 2011
28 Jan 2012
(MENAFN) The UAE Central Bank said that at the end of last month, money supply M0 (currency in circulation + currency at banks) rose by 2.3 percent to USD14.48 billion from USD14.15 billion at the end of October, reported Emirates 24/7.
The bank added that money supply aggregate, M1 (currency in circulation + monetary deposits; current accounts and call accounts at banks) went up by 2.2 percent in the period, reaching USD72 billion from USD70.4 billion a month earlier.
It also said that money supply aggregate, M2, which includes M1 and quasi-monetary deposits, rose by 0.4 percent to USD223.7 billion from USD222.9 billion, whereas money supply aggregate, M3, (M2 + government deposits at bank operating in the UAE and at the CB), increased by 0.6 percent to USD272 billion.
It is worth noting that in November, total bank deposits declined by 0.8 percent to USD286.8 billion.
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