The total value of monetary deposits at the UAE Central Bank amounted to Dh123 billion ($33.5 billion) during the first half (H1) of the year, Dh122.95 billion of which are in banknotes and Dh50 million in coins, a report said.

On a month-over-month basis, the deposits increased by 20.5 per cent, rising from Dh102 billion in May to Dh123 billion in June, according to Central Bank statistics released recently, reported Wam, the Emirates official news agency.

The month of May was the most active during which the total deposits increased to Dh21.9 billion from Dh21.8 billion in April.

The deposits reached Dh21 billion in June, Dh20.9 billion in January, Dh19.5 billion in March and Dh17.8 billion in February.

In the meantime, money withdrawals from the Central Bank hit Dh129.3 during the first half of the year, Dh129.23 billion of which are in banknotes and Dh73 million in coins.

Total withdrawals amounted to Dh25.56 billion in May, Dh22.7 billion in June, Dh22 billion in March, Dh20.6 billion in January, Dh20.07 billion in April, declining to Dh18.1 billion in February.