Abu Dhabi – Mubasher: UAE’s money supply aggregate M1 declined by 0.9% to AED 488.9 billion by the end of May, compared with AED 493.4 billion a month earlier, according to a press release by the central bank.
Likewise, the money supply aggregate M2 fell by 1.4% to AED 1186.4 billion in May from AED 1203.1 billion in April.
The bank attributed M1 reduction to a dcrease of AED 4.8 billion in monetary deposits, while M2 reduction was ascribed to a fall of AED 12.2 billion in quasi-monetary deposits.
At a slower pace, the money supply aggregate M3 also edged down to AED 1371.3 billion during May, compared with AED 1373.9 billion registered in April.
