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Central Bank: Monetary and Banking Developments for August 2015

posted on 17/09/2015: 1871 views



The Central Bank has announced that the Money Supply aggregate M1 decreased by 0.8%, from Dh 460.8 billion at the end of July to Dh 457 billion at the end of August 2015.

Money Supply aggregate M2 also decreased by 0.8%, from Dh 1,184.7 billion at the end of July to Dh 1,175 billion at the end of August 2015.

Similarly, the bank says, the Money Supply aggregate M3 decreased by 1%, from Dh 1,347.9 billion at the end of July to Dh 1,334 billion at the end of August 2015.

According to the Central Bank, the decrease in M1 was mainly attributed to a decrease of Dh 2.7 billion in Monetary Deposits while the decrease in M2 and M3 was attributed to a decrease of Dh 5.9 billion in Quasi-Monetary Deposits and Dh 4.2 billion in Government Deposits respectively.

Gross bank assets, including bankers' acceptances, increased by 1%, from Dh 2,408 billion at the end of July to Dh 2,431.1 billion at the end of August 2015. Gross credit increased by 0.9%, rising from Dh 1,450.6 billion at the end of July to Dh 1,464.1 billion at the end of August 2015.

Total bank deposits decreased by Dh 4.4 billion during August 2015, reaching Dh1,430.8 billion. This decrease was attributed to a decrease of Dh 11.7 billion in Resident Deposits and an increase of Dh 7.3 billion in Non-Resident Deposits. – Emirates News Agency, WAM - http://www.wam.ae/en/news/economics/1395285638703.html

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