ABU DHABI - The UAE monetary base increased to circa AED386.3 billion by the end of August, around 1.7 percent up from AED379 bn by the end of 2018.

The growth is driven by an improvement across all the components of monetary base, including reserve requirements, currency issued, certificates of deposit and current account balances, according to statistics released by the Central Bank of the United Arab Emirates.

Monetary Base is defined as the sum of Currency Issued (Currency in Circulation outside Banks and Cash at Banks),Total Banks' Reserves at the Central Bank and Certificates of Deposits held by Banks.

In more detail, the CBUA's certificates of deposit amounted to AED150.2 bn by the end of August from AED146.5 bn one month earlier.

Current account balances reached AED18.3 bn in August, with reserve requirements growing from AED125.4 bn in July to AED127.6 bn in August.

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