Money Supply M3 Hits AED1.632 Trillion In August

Sumaira FH Published September 18, 2019 | 09:30 PM

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 18th Sep, 2019) The Central Bank of the UAE has announced that the Money Supply Aggregate M3 edged up to AED1.632 trillion in August, from AED1.602 trillion by the end of 2018.

According to the bank's statistics, government's deposits amounted to AED269 bn in August with monetary deposits standing at AED433.6, and quasi-monetary deposits at AED853.4 bn.

Issued cash reached AED90.2 bn, with Currency in circulation outside banks estimated at AED75.4 bn.

Money Supply M1 comprises currency in circulation outside banks (currency issued - cash at banks) plus monetary deposits; while Money Supply M2 includes M1 plus Quasi Monetary Deposits(resident time and savings deposits in Dirham plus resident deposits in foreign currencies). Money Supply M3 means M2 plus government deposits at banks and at the CBUAE.