Money supply increases by 1.9 per cent: CB

21/03/2017 05:32 AST

The UAE Central Bank has announced that the Money Supply aggregate M1 increased by 1.9 per cent, from Dhs479.9 billion at the end of January 2017 to Dhs488.9 billion at the end of February 2017.

In its statement, the bank added, “The Money Supply aggregate M2 increased by 1.1 per cent, from Dhs1230.2 billion at the end of January 2017 to Dhs1244.2 billion at the end of February 2017.”

The Money Supply aggregate M3 also increased by 1.9 per cent, from Dhs1415.6 billion at the end of January 2017 to Dhs1442.5 billion at the end of February 2017.

The increase in M1 was mainly due to an increase of Dhs8.7 billion in Monetary Deposits. The rise in M2 was caused by an increased M1 and an increase of Dhs5 billion in Quasi-Monetary Deposits. M3 rose due to increased M1 and M2 and an increase in Government Deposits by Dhs12.9 billion.

Gross bank assets, including bankers’ acceptances, increased by 0.6 per cent, rising from Dhs2610.1 billion at the end of January 2017 to Dhs2626.3 billion at the end of February 2017.


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