Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Monetary & Banking Developments – August 2018
 
Dubai, UAE, October 07, 2018:  The Central Bank announced that the Money Supply aggregate M1 decreased by 1.7%, from AED 496.4 billion at the end of July 2018 to AED 488.1 billion at the end of August 2018. 
 
The Money Supply aggregate M2 also decreased by 1.8%, from AED 1302.3 billion at the end of July 2018 2018 to AED 1278.9 billion at the end of August 2018. 
 
On the other hand, the Money Supply aggregate M3 increased by 0.1%, from AED 1556 billion at the end of July 2018 to AED 1556.9 billion at the end of August 2018. 
 
The reduction in M1 was mainly due to a decrease of AED 7.4 billion in Monetary Deposits and of AED 0.9 billion in Currency in Circulation outside Banks. The fall in M2 was brought about by the decreased M1 and an AED 15.1 billion reduction in Quasi-Monetary Deposits. M3 rose due to an AED 24.3 billion increase in Government Deposits, overshadowing the decreases in M1 and M2. 
 
Gross bank assets, including bankers’ acceptances, increased by 0.9%, rising from AED 2774.5 billion at the end of July 2018 to AED 2800.3 billion at the end of August 2018. 
 
Gross credit also increased by 0.6% from AED 1622.9 billion at the end of July 2018 to AED 1632.8 billion at the end of August 2018. 
 
During August 2018, total bank deposits increased by AED 8 billion, due to AED 3.2 billion increase in Resident Deposits and AED 4.8 billion increase in Non-Resident Deposits.  


Posted by : Dubai PR Network Editorial Team
Viewed 9845 times
PR Category : Banking & Investments
Posted on : Sunday, October 7, 2018  5:06:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Dubai Islamic Bank Group 9 Month Financial Results
Next Story : New Worker's Insurance Scheme Forthcoming
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Tissot Introduces Chrono XL 3x3 Street Basketball Special Collection [8497-Views]
Chloé Launches The New Cloud-shaped “rosie” Sunglasses [8296-Views]
BYS COSMETICS Now in UAE [8204-Views]
Max Mara Resort 2020 Collection [8028-Views]
Saint Honore [6966-Views]
Hackket's Bags of Style [6606-Views]
Introducing the Swim and Beachwear Summer Collection from Marks & Spencer [6478-Views]
VBQ-presskit-denim-70s Capsule [6118-Views]
New Land Rover Defender Completes Tusk Testing to Support Lion Conservation in Kenya [5362-Views]
Ministry of State for FNC Affairs Launches Forum Titled ‘Political Empowerment in the UAE' [5356-Views]
Natural and gentle haircare essentials for your little ones from Fifi & Friends' [5112-Views]
Eberhard & Co. Alfa Romeo Limited Edition [5081-Views]
Jaguar Land Rover & Bmw Group Announce Collaboration for Next Generation Electrification T... [5020-Views]
OMEGA Rocket Engine - Introducing the Master Chronometer Calibre 3861 [4972-Views]
Rado Captain Cook Automatic Limited Edition with travel case' [4959-Views]
UAE and Oman bodies sign MoU to jointly promote Internal Auditing [4599-Views]
Kickstart your summer workout with Ibn Battuta Mall's free indoor family Fun Run [4544-Views]
Vincitore Realty sells out 108 homes in the Dh375 million Benessere project in just three ... [4538-Views]
Britain's Greatest Test Driver, Norman Dewis Obe, Passes Away [4246-Views]
The Economic Times recognizes Malabar Gold & Diamonds as one of the Best Brands 2019 [4227-Views]
Sony World Photography Awards Reveals New Categories for 2020 and Latest Sony Grant Recipi... [4136-Views]
The Gucci Runway Makeup Looks for Cruise 2020 [4130-Views]
Electricity Most Searched Fuel Energy Term Online in UAE [4081-Views]
Certina DS PH200M collection' [4063-Views]
Aston Martin Produces First Cars at St Athan [4056-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories