Abu Dhabi: The UAE Central Bank has announced that the money supply aggregate M0 (currency in circulation + currency at banks) increased by 1.0 per cent from Dh62.8 billion at the end of October 2013 to Dh63.4 billion at the end of November of the same year.
The money supply aggregate M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks) increased by 3.3 per cent, from Dh361.5 billion at the end of October 2013 to Dh373.3 billion at the end of November of the same year.
The money supply aggregate M2 which comprises of M1 and quasi-monetary deposits (resident time and savings deposits in Dirhams, commercial prepayments in dirhams and resident deposits in foreign currencies), increased by 3.3 per cent from Dh1.003 trillion at the end of October 2013 to Dh1.036 trillion at the end of November of the same year.
The money supply aggregate M3 (M2 plus government deposits at banks operating in the UAE as well as at the Central Bank) decreased by 0.5 per cent from Dh1.22 trillion at the end of October 2013 to Dh1.21 trillion at the end of November of the same year.
Total bank deposits decreased by 0.9 per cent during the month of November 2013, reaching Dh1.27 trillion, as a result of a decrease in resident deposits by 0.7 per cent, and a decrease in non-resident deposits by 3.2 per cent while total bank loans and advances (net of provisions and interest in suspense) increased by 1.4 per cent to reach Dh1.17 trillion. Total bank assets increased by 0.2 per cent to reach Dh1.99 trillion at the end of November 2013.
During the first eleven months of 2013, the monetary aggregate M2 increased by 20.2 per cent, while bank loans and advances increased by 6.8 per cent and total bank deposits increased by 9.1 per cent, as a result of an increase in resident deposits by 12.3 per cent.
