Finance & Capital Market

UAE's monetary aggregate surges to $446bn in April

The Central Bank of UAE's Monetary aggregates, which include currency in circulation outside banks plus monetary deposits and quasi-deposits and government deposits, referred to as M3, increased 0.2 percent by the end of April 2019, hitting Dh1.636 trillion ($446 billion) against Dh1.632 trillion the month before, according the UAE Monthly Monetary Survey of April released today (May 21).

The monetary aggregate growth came though M1 decreased by 0.3 per cent to Dh507.3 billion in April from Dh512 billion in March, with currency circulated outside banks up to Dh74.7 billion.

In the meantime, M2 also increased by 0.5 per cent from Dh1.33 billion in March, to Dh1.34 billion in April.-TradeArabia News Service