UAE Monetary Base Up To AED396.2 Bn In May

Faizan Hashmi Published June 25, 2019 | 12:00 AM

The UAE Central Bank has announced government deposits increased to AED297.8 billion in January, with monetary deposits and quasi-monetary deposits standing at AED428.6 billion and AED814.1 billion respectively

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 25th Jun, 2019) The UAE Central Bank has announced government deposits increased to AED297.8 billion in January, with monetary deposits and quasi-monetary deposits standing at AED428.6 billion and AED814.1 billion respectively.

Currency issued at banks rose to AED97.

7 billion in May, with Currency circulated outside banks reaching AED78.6 billion in the same month, while certificates of deposit were worth AED147.1 billion.

In the meantime, the UAE monetary base grew to circa AED396.2 billion by the end of May, an increase of AED10 billion from AED385.9 billion in April.

The CBUAE's current account balance reached AED25.1 billion in May 2019, with banks' required reserve standing AED126.3 billion.