UAE monetary base up to AED386 b in April

ABU DHABI, The UAE monetary base increased to circa AED386 billion by the end of April, 3.5 percent up from AED373 bn one month earlier.

The growth is driven by an improvement across all the components of monetary base, including reserve requirements, currency issued, certificates of deposit and current account balances, according to statistics released by the Central Bank of the United Arab Emirates.

Monetary Base is defined as the sum of Currency Issued (Currency in Circulation outside Banks and Cash at Banks),Total Banks’ Reserves at the Central Bank and Certificates of Deposits held by Banks.

In more detail, the CBUA’s current account balances amounted to AED23.5 bn in April with reserve requirements valued AED124.1 bn.

Currency issued reached AED89.3 bn with certificates of deposit amounting to AED149 bn.

Source: Emirates News Agency