Cash in circulation outside UAE banks rises by $4.4bln in 2020

The cumulative balance of cash circulating outside the UAE banks rose by 21% year-on-year (YoY) in 2020

  
Image used for illustrative purpose.

Image used for illustrative purpose.

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UAE - Mubasher: The volume of cash circulating outside the UAE banks increased by AED 16.5 billion in 2020, bringing the cumulative balance to AED 94.7 billion by the end of December 2020, the Emirates News Agency (WAM) reported.

The cumulative balance of cash circulating outside the UAE banks rose by 21% year-on-year (YoY) in 2020, as shown by the latest data of the Central Bank of the UAE (CBUAE).

The cash circulating outside the UAE banks represents around 5.3% of the total money supply "M3" valued at AED 1.769 trillion by the end of December 2020.

Source: Mubasher

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