Emirates News Agency – Money Supply Aggregate M3 hit AED 1.748 trillion in May 2020

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ABU DHABI, 16th June, 2020 (WAM) — The Central Bank of the UAE has announced that the Money Supply Aggregate M3 edged up to circa AED1.748 trillion in May 2020, a growth of 1.8 percent, or AED31 bn from AED 1.717 trillion by the end of December 2019.

According to the APEX bank’s statistics, the government’s deposits amounted to AED296 bn in May, with monetary deposits standing at AED471.2 bn, and quasi-monetary deposits at AED887.6 bn.

Issued cash reached AED107.8 bn, with currency in circulation outside banks estimated at AED93.1 bn.

In the meantime, the UAE monetary base grew to circa AED407.1 bn by the end of the same month.

The CBUAE’s current account balance reached AED34 billion in May with banks’ required reserve standing AED194.3 bn.

WAM/Hatem Mohamed

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