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| 20 November, 2017

UAE's Central Bank gross bank assets amount to $718bln in October 2017

UAE dirhams. Image used for illustrative purpose.

UAE dirhams. Image used for illustrative purpose.

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The Money Supply Aggregate M1, increased by six percent in Oct.

ABU DHABI, 20th November, 2017 (WAM) -- The Central Bank's gross bank assets, including bankers' acceptances amounted to around AED2.639 trillion during the month of October against AED2.643 trillion in September.

According to CB statistics released today, gross credit increased to AED1.584 trillion during October, two percent up from AED1.58 trillion in September.

The Money Supply Aggregate M1, increased by six percent from AED488.9 billion during September to AED492 billion by the end of October, while the Money Supply Aggregate M2 declined by 1 percent from AED1.2572 trillion during September to AED1.2441 trillion by the end of October.

The Money Supply Aggregate M3 edged up by 6 percent from AED1.458 trillion in September to 1.4673 trillion by the end of October.

The rise in Money Supply Aggregate M1 is attributable to an increase of AED2.4 billion in cash monetary deposits while the decline in Money Supply Aggregate M2 came as a result of the decrease in near-cash deposits.

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© Copyright Emirates News Agency (WAM) 2017.