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ABU DHABI / WAM
The UAE Central Bank has announced that the money supply aggregate M1 increased 1.1%, from AED492.4 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 AED 1480.9 billion at the end of January 2018.â€
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.