UAE Central Bank Announces M1 Increase To AED498 Billion
ED492.4 billion at the end of December 2017 to AED498 billion at the end of January 2018.
In a statement, the bank said, "The Money Supply aggregate M2 increased by 0.1%, from AED1276.2 billion at the end of December 2017 to AED1277.2 billion at the end of January 2018.
It added, "The Money Supply aggregate M3 decreased by 0.4%, from AED1487.1 billion at the end of December 2017 to AED1480.9 billion at the end of January 2018.
"The increase in M1 was mainly due to a rise of AED5 billion in Monetary Deposits. The increase in M2 was brought about by the increase in M1, overshadowing an AED4.6 billion reduction in Quasi-Monetary Deposits. M3 mainly fell due to AED7.2 billion reduction in Government Deposits.
"Gross bank assets, including bankers’ acceptances, decreased by 0.3%, falling from AED2695 billion at the end of December 2017 to AED2688.1 billion at the end of January 2018.
"Gross credit increased by 0.5% from AED1580.7 billion at the end of December 2017 to AED1587.9 billion at the end of January 2018.
"During January 2018, total bank deposits decreased by AED5.8 billion mainly due to an AED5.2 billion and AED0.6 billion reductions in Resident Deposits and Non-Resident Deposits, respectively."
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