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ABU DHABI / WAM
The UAE monetary base expanded 6 percent to an 11-month high of AED371.6 billion by end of November from AED350.6 billion in October, according to Central Bank of UAE statistics.
Certificates of deposits purchased by banks slightly declined to AED125.8 billion.
Current accounts of banks at CBUAE multiplied to AED36.3 billion in November from AED18.2 billion by the end of October same year.
A monetary base is the total amount of a currency that is either in general circulation in the hands of the public or in the commercial bank deposits held in the central bank’s reserves.