UAE cenbank withdraws $1.9bln of surplus liquidity from market in May -WAM

The central bank of the United Arab Emirates withdrew AED7 billion ($1.9 bln) of surplus liquidity from the market during May

  
Image used for illustrative purpose. Vehicles stop at a red light in front of the main branch of UAE Central Bank in Abu Dhabi, January 29, 2013.

Image used for illustrative purpose. Vehicles stop at a red light in front of the main branch of UAE Central Bank in Abu Dhabi, January 29, 2013.

REUTERS/Ben Job

DUBAI- The central bank of the United Arab Emirates withdrew 7 billion dirhams ($1.9 bln) of surplus liquidity from the market during May, according to a statement carried by state news agency WAM on Wednesday.

The move comes after the central bank injected 16.1 billion dirhams into the money supply in April, the statement said.

(Reporting by Katie Paul Editing by Raissa Kasolowsky) ((Katie.Paul@thomsonreuters.com;))

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