Money supply in UAE continued increasing in March: Central Bank

Dubai: The UAE Central Bank announced yesterday that Money supplies have recorded an increase of 3.2 percent and reached Dh504.4 billion at the end of March 2017 up from 488.9 billion at the end of February.

The increase came as a result of increase of money in circulation and an increase in the short and term deposits, which overshadowed the decrease in Government Deposits by Dh4.7 billion, a Central Bank statement said.

Both gross bank assets and gross credits recorded an increase of 0.8 per cent and 0.7 per cent respectively during the month of March, 2017, the statement said.