The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI/WAM
The Central Bank of the United Arab Emirates (CBUAE) announced that monetary deposits increased by over 1.74 percent or AED13.1 billion in April, reaching AED764 billion, compared to AED750.9 billion in March.
According to CBUAE’s statistics for April, issued today, government deposits increased to AED508.8 billion, while quasi-monetary deposits settled at AED1.256 trillion.
Currency issued reached AED146.8 billion during April, with banks accounting for AED18.4 billion and currency circulated outside banks logged at AED128.4.
The April statistics further showed that the monetary base expanded by 1.5 percent to AED714.3 billion, comprising AED146.8 billion in currency issued, AED183.1 billion in reserve account, AED124.5 billion in banks and OFCs’ current accounts and AED259.9 billion in certificates of deposit and monetary bills.