UAE Central Bank issues statement on money supply, down 2.1%

06 March 2012

The UAE central bank has said money supply M0, which is currency in circulation and currency at banks, fell by 2.1% from Dhs53.2bn at the end of November 2011 to Dhs52.1bn at the end of December of the same year, Wam has reported. Total Bank deposits increased by 1.5% during the month of December 2011 to close at Dhs1.07bn. Meanwhile, total bank loans and advances, net of provisions and interest in suspense, fell 0.3% to Dhs1.07bn and total bank assets declined by 0.6% to reach Dhs1.66bn at the end of December 2011, the central bank said.

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