UAE – Mubasher: The Central Bank of the UAE (CBUAE) said that the money supply (M1) increased by 1.3% to AED 509 billion at the end of August 2019 from AED 502.7 billion at the end of July 2019.
Money supply aggregate (M2) inched down 0.1% to AED 1.362 trillion at the end of August, compared to AED 1.363 billion at the end of July, the CBUAE said in a recent report.
Additionally, the money supply (M3) slumped by 0.6% to AED 1.632 trillion at the end of August, versus AED 1.642 trillion at the end of July, the CBUAE highlighted.
In the same vein, gross bank assets, including bankers’ acceptances, reached AED 2.983 trillion at the end of August 2019, up 0.3% from AED 2.975 trillion at the end of July 2019.
Meanwhile, gross credit edged up by 0.2% to AED 1.707 trillion at the end of August from AED 1.705 trillion at the end of July, the central bank highlighted.
Total bank deposits fell by AED 14 billion last August as resident deposits and non-resident deposits have seen decreases of AED 7.5 billion and AED 6.5 billion, respectively.
