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UAE Central Bank Announces M1 Decreased To AED495.5 Billion |
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The UAE Central Bank has announced that Money Supply aggregate M1 decreased by 0.9 percent, from AED500.1 billion at the end of May 2018 to AED495.5 billion at the end of June 2018. The Money Supply aggregate M2 also decreased by 0.3 percent, from AED1304.4 billion at the end of May 2018 to AED1300.1 billion at the end of June 2018. The Money Supply aggregate M3 increased by 0.9 percent, from AED1539.7 billion at the end of May 2018 to AED1553.6 billion at the end of June 2018. The reduction in M1 was mainly due to a fall of AED4.9 billion in Monetary Deposits. The reduction in M2 was brought about by the decreased M1, overshadowing an AED0.3 billion increase in Quasi-Monetary Deposits. M3 rose due to an AED18.2 billion increase in Government Deposits, overriding the decreases in M1 and M2. Gross bank assets, including bankers’ acceptances, increased by 0.5 percent, rising from AED2735.6 billion at the end of May 2018 to AED2748.9 billion at the end of June 2018. Gross credit also increased by 0.3 percent from AED1617.3 billion at the end of May 2018 to AED1622.3 billion at the end of June 2018. During June 2018, total bank deposits increased by AED12.5 billion, due to AED14.3 billion increase in Resident Deposits, overriding AED1.8 reduction in Non-Resident Deposits. |
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