Abu Dhabi – Mubasher: The UAE’s money supply M1 declined in June by 1.64% to AED 481 billion, versus AED 488.9 billion in May, the Central Bank of the UAE said on Wednesday.
Money supply M2 also fell in June by 0.51% to AED 1.180 trillion from AED 1.186 trillion in May. Money supply M3 shrank to AED 1.364 trillion from AED 1.371 trillion.
Gross bank assets increased by 0.5 % to AED 2.518 trillion at the end of June from AED 2.506 trillion at the end of May.
Gross credit also rose by 0.8% from AED 1.531 trillion at the end of May to AED 1.543 trillion billion at the end of June.
Total bank deposits decreased by AED 12.5 billion due to AED 7 billion and AED 5.5 billion decreases in resident and non-resident deposits respectively.
