The central bank said that the money supply aggregate M3 decreased by 0.1 per cent.
Published: Sun 22 Nov 2015, 11:00 PM
Updated: Tue 24 Nov 2015, 8:40 AM
Deposits at the UAE banks dropped by Dh1.4 billion during October 2015, in a month-on-month comparison falling to Dh1.435 trillion, as a consequence of decrease of Dh2.7 billion in resident deposits, the Central Bank of the UAE said.
The central bank said that the money supply aggregate M3 decreased by 0.1 per cent, from Dh 1.341 trillion at the end of September to Dh1.340 trillion at the end of October 2015. The decrease was attributed to a decrease of Dh9.8 billion in government deposits, the central bank said.
Money Supply aggregate M1 increased by 0.5 per cent, from Dh453.6 billion at the end of September to Dh455.7 billion at the end of October 2015. Money Supply aggregate M2 also increased by 0.7 per cent, from Dh1.176 trillion at the end of September to Dh1.185.1 trillion at the end of October 2015. The increase in M1 and M2 was largely attributed to an increase of Dh500 million in Monetary Deposits and an increase of Dh6.6 billion in Quasi-Monetary Deposits, respectively.
Gross bank assets, including bankers' acceptances, decreased by 0.1 per cent to Dh2.420 trillion at the end of October 2015 comparing with September.
Gross credit increased by 0.2 per cent to Dh 1.482 trillion at the end of October 2015 in a month-on-month comparison.
haseeb@khaleejtimes.com
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