Money Supply M3 hits AED1.694 trillion in February

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Mohamed Nass - - The Central Bank of the UAE has announced that the Money Supply Aggregate M3 edged up to circa AED1.694 trillion in February 2020, from AED1.69 trillion by the end of the preceding month.

According to the bank's statistics, the government's deposits amounted to AED267.4 bn in February with monetary deposits standing at AED447 bn, and quasi-monetary deposits at AED897 bn.

Issued cash reached AED96 bn, with currency in circulation outside banks is estimated at AED85.2 bn.

In the meantime, the UAE monetary base grew to circa AED415.6 billion by the end of February, an increase of AED7.1 billion from AED408.5 billion in January.

The CBUAE's current account balance reached AED25.4 billion in February with banks' required reserve standing AED130.1 billion.

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