UAE money supply M0 up 2.3% at Dh53.2b

30/12/2011 07:27 AST

The UAE Central Bank on Thursday announced that money supply M0 (currency in circulation plus currency at banks) increased by 2.3 per cent from Dh52 billion at the end of October 2011 to Dh53.2 billion at the end of November of the same year.

Money supply aggregate M1 (currency in circulation plus monetary deposits; current accounts and call accounts at banks) increased by 2.2 per cent, from Dh258.8 billion at the end of October to Dh264.6 billion at the end of November of 2011, it said in a Press release.

Money supply aggregate M2 which comprises of M1 and quasi-monetary deposits (resident time and savings deposits in dirhams, commercial prepayments in dirhams and resident deposits in foreign currencies), increased by 0.4 per cent, from Dh818.9 billion at the end of October to Dh822.1 billion at the end of November 2011.”

“Money supply aggregate M3. (M2 plus government deposits at bank operating in the UAE as well as at the central bank) increased by 0.6 per cent, from Dh1,003.9 billion at the end of October to Dh1,009.8 billion at the end of November 2011.

Total bank deposits decreased by 0.8 per cent during the month of November 2011 to close at Dh1,053.8 billion. Meanwhile, total bank loans and advances (net of provisions and interest in suspense) as well as total bank assets increased by 0.1 per cent to reach Dh1,074.5 billion and Dh1,672.9 billion, at the end of November 2011, respectively.


Khaleej Times

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