UAE central bank: M2 hits AED1248.8 billion

ABU DHABI / WAM

The UAE Central Bank has announced that the Money Supply aggregate M2 increased by 0.4%, from AED1244.1 billion at the end of October 2017 to AED1248.8 billion at the end of November 2017.
In a statement, the bank added that the Money
Supply aggregate M1 decreased by 0.3%, from AED492 billion at the end of October 2017 to AED 490.3 billion at the end of November 2017.
The Money Supply aggregate M3 also increased by 1.8%, from AED1467.3 billion at the end of October 2017 to AED1494.3 billion at the end of
November 2017.
The statement added, “The decrease in M1 was mainly due to a reduction of AED4.1 billion in Monetary Deposits. The rise in M2 was brought about by an AED6.4 billion increase in Quasi-Monetary Deposits.”