News Column

Central Bank: Money Supply aggregate M0 increased by 0.8%

February 26, 2014



ABU DHABI, 26th February, 2014 (WAM) -- The U.A.E. Central Bank has announced that the money supply aggregate, M0 (currency in circulation + currency at banks), increased by 0.8%, from AED 63.4 billion at the end of November 2013 to AED 63.9 billion at the end of December of the same year.

The money supply aggregate, M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks), increased by 1.7%, from AED 373.3 billion at the end of November 2013 to AED 379.6 billion at the end of December of the same year.

The money supply aggregate, M2 which comprises of M1 and quasi-monetary deposits (resident time and savings deposits in Dirhams, commercial prepayments in Dirhams and resident deposits in foreign currencies), increased by 1.9%, from AED 1,036.8 billion at the end of November 2013 to AED 1,056.8 billion at the end of December of the same year.

The money supply aggregate M3 (M2 plus government deposits at banks operating in the UAE as well as at the Central Bank) increased by 0.2%, from AED 1,217.2 billion at the end of November 2013 to AED 1,219.9 billion at the end of December of the same year.

Total bank deposits increased by 0.4% during the month of December 2013, reaching AED 1,278.9 billion, as a result of an increase in resident deposits of 0.3%, and an increase in non-resident deposits of 1.8% while total bank loans and advances (net of provisions and interest in suspense) increased by 0.3% to reach AED 1,177.3 billion. Total bank assets increased by 1.7% to reach AED 2,025.8 billion at the end of December 2013.

During the year 2013, the monetary aggregate M2 increased by 22.5%, while bank loans and advances increased by 7.1% and total bank deposits increased by 9.5%, as a result of an increase in resident deposits of 12.6%.


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Source: Emirates News Agency (WAM) (United Arab Emirates)


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