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ABU DHABI / WAM
The Central Bank of the UAE announced that the Money Supply aggregate, M1, decreased by 1.6%, from AED 488.9 billion at the end of May 2016 to AED 481 billion at the end of June.
The Money Supply aggregate M2 decreased by 0.5%, from AED 1186.4 billion at the end of May 2016 to AED 1180.4 billion at the end of June.
The Money Supply aggregate M3 also decreased by 0.5%, from AED 1371.3 billion at the end of May 2016 to AED 1364.8 billion at the end of June.
The reduction in M1 was mainly due to a decrease of AED 9.3 billion in Monetary Deposits. The decrease in M2 was mainly attributed to a reduced M1, which overshadowed an AED 1.9 billion increase in Quasi-Monetary Deposits. M3 too decreased owing to reduced M1 and M2 and an AED 0.5 billion reduction in Government Deposits.