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Central Bank announces Monetary and Banking Developments for November 2015

posted on 23/12/2015: 1569 views



The Central Bank yesterday announced that the Money Supply aggregate M1 increased by 0.4%, from Dh 455.7 billion at the end of October to Dh 457.3 billion at the end of November 2015.

Money Supply aggregate M2 decreased by 0.2%, from Dh 1,185.1 billion at the end of October to Dh 1,182.9 billion at the end of November 2015. Money Supply aggregate M3 increased by 0.8%, from Dh 1,340.8 billion at the end of October to Dh 1,351.9 billion at the end of November 2015.

The increase in M1 and M3 was largely attributed to an increase of Dh 1.6 billion in Monetary Deposits and an increase of Dh 13.3 billion in Government Deposits, respectively. The decrease in M2 was attributed to a decrease of Dh 3.8 billion in Quasi-Monetary Deposits.

Gross bank assets, including bankers' acceptances, increased by 1%, from Dh 2,420.7 billion at the end of October 2015 to Dh 2,446.0 billion at the end of November 2015.

Gross credit also increased by 0.6%, rising from Dh 1,482.0 billion at the end of October to Dh 1,490.2 billion at the end of November 2015.

Total bank deposits increased by Dh 14.1 billion during November 2015, increasing to Dh 1,449.5 billion. This increase was predominantly attributed to a combined rise of Dh 12.1 billion in Resident Deposits and of Dh 2 billion in Non-Resident Deposits. – Emirates News Agency, WAM -

http://www.wam.ae/en/news/economics/1395289534250.html

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