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ABU DHABI / WAM
The UAE Central Bank announced that the money supply aggregate M1 rose 0.2 percent, from AED509.7 billion at the end of February 2018 to AED510.6 billion at the end of March 2018. In a statement, the bank said, “The money supply aggregate M2 increased by 0.7 percent, from AED1284.9 billion at the end of February 2018 to AED1293.8 billion at the end of March 2018.â€
It added that the money supply aggregate M3 also increased 2.7 percent, from AED1486.3 billion at the end of February 2018 to AED1526.7 billion at the end of March 2018. The increase in M1 was mainly due to a rise of AED1 billion in monetary deposits.
The increase in M2 was brought about by the increase in M1 and an AED8 billion increase in quasi-monetary deposits. M3 rose due to a combined increase in M1, M2, and AED31.5 billion increase in government deposits.
Gross bank assets, including bankers’ acceptances, increased 0.4 percent.