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Aggregate money supply ?up 3.5% in April

June 11, 2014

The UAE'sCentral Bank has announced that the money supply aggregate M1 (currency in circulation plus monetary deposits, i.e. current accounts and call accounts at banks) increased by 3.5 per cent, from Dh412.0 billion at the end of March 2014 to Dh426.3 billion by the end of April 2014.

In its statement, the Central Bank announced that the money supply aggregate M0 (currency in circulation + currency at banks) decreased by 0.2 per cent, from Dh65.3 billion to Dh65.2 billion for the same period. 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), decreased by 0.1 per cent, from Dh1,124.3 billion at the end of March to Dh1,123.7 billion at the ?end of April.

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Source: Khaleej Times (United Arab Emirates)

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