UAE Central Bank increases money supply to $141bln

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It increased from AED 510.6 billion at the end of March 2018 to AED 517.4 billion at the end of April 2018, according to a statement by the UAE Central Bank.

The Money Supply aggregate M2 increased by 1.5 per cent, from AED 1293.8 billion at the end of March 2018 to AED 1313.1 billion at the end of April 2018. The Money Supply aggregate M3 also increased by 0.5 per cent, from AED 1526.7 billion at the end of March 2018 to AED 1534 billion at the end of April 2018.

The increase in M1 was mainly due to a rise of AED 6 billion in Monetary Deposits. The increase in M2 was brought about by the increase in M1 and an AED 12.5 billion increase in Quasi-Monetary Deposits. M3 rose due to a combined increase in M1 and M2, overshadowing an AED 12 billion reduction in Government Deposits.

Gross bank assets, including bankers’ acceptances, decreased by 0.2 per cent, falling from AED 2718.3 billion at the end of March 2018 to AED 2711.7 billion at the end of April 2018.

Gross credit also decreased by 0.1 per cent from AED 1608.1 billion at the end of March 2018 to AED 1606.6 billion at the end of April 2018.

During April 2018, total bank deposits fell by AED 2.3 billion, due to an AED 3.7 billion decrease in Resident Deposits, overriding an AED 1.4 billion increase in Non-Resident Deposits.