Central Bank money supply aggregate reaches AED492bn

ABU DHABI / WAM

The UAE Central Bank announced that the money supply aggregate M1 increased by 0.6 percent from AED488.9 billion at the end of September to AED492 billion at the end of October this year.
In a statement, the bank said, “The money supply aggregate M2 decreased by 1 percent, from AED1257.2 billion at the end of September to AED1244.1 billion at the end of October.”
It added, “The money supply aggregate M3 increased by 0.6 percent, from AED1458 billion at the end of September to AED1467.3 billion at the end of
October.
“The rise in M1 was mainly due to an
increase of AED2.4 billion in monetary deposits. The fall in M2 was brought about by an AED 16.2 billion decrease
in quasi-monetary deposits. M3 mainly increased due to an AED22.4 billion
increase in government deposits, overshadowing the reduction in M2.
“Gross bank assets, including bankers’ acceptances, decreased by 0.2 percent, falling from AED2643.2 billion at the end of September to AED2638.8 billion at the end of October.
“Gross credit increased by 0.2 percent, rising from AED1580 billion at the end of September to AED1583.8 billion at the end of October.