Saturday 26 September 2020

UAE monetary base up 6pc to $101bn

ABU DHABI, December 18, 2018

The UAE monetary base expanded 6.00 percent to an 11-month high of Dh371.6 billion ($101.1billion) by end of November from Dh350.6 billion by the end of October, a media report said.

Certificates of deposits purchased by Banks slightly declined to Dh125.8 billion, with banks’ required reserves amounting to Dh121.8 billion, reported Emirates News Agency Wam, citing statistics released by the Central Bank of UAE.

Current accounts of banks at CBUAE multiplied to Dh36.3 billion during November from Dh18.2 billion by the end of October same year.

A monetary base is the total amount of a currency that is either in general circulation in the hands of the public or in the commercial bank deposits held in the central bank's reserves.

Tags: UAE | Central Bank | monetary base |

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