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
Monetary deposits at the UAE Central Bank stood at AED55.8 billion in the first quarter of 2018 while withdrawals reached about AED55 billion, according to the figures released by the UAE Central Bank on Tuesday.
“Value of deposits in banknotes was AED5,578 million against AED23 million for currency in coins,†the figures indicated. “Monetary deposits were valued at AED19.1 billion in March up 25.6 percent over February while January remained the most active in the deposit trends with AED21.5 billion,†according to the figures.
Withdrawals increased as much as 19.7 percent in January to AED19.53 billion as compared to February, the figures showed. Deposits and withdrawals usually signify the level of activity of the national economy during a specific period.Â