Abu Dhabi: The UAE Central Bank has announced that the money supply aggregate, M1 (currency in circulation outside banks and monetary deposits in current accounts and call accounts at banks), increased by 1.3 per cent, from Dh474 billion at the end of December 2016, to Dh479.9 billion at the end of January, 2017.
The money supply aggregate, M2 (M1 plus quasi-monetary deposits or resident time and saving deposits in dirhams and resident deposits in foreign currencies), increased by 0.4 per cent, from Dh1,225.5 billion at the end of December 2016 to Dh1,230.2 billion at the end of January 2017, whilst the money supply aggregate, M3, also increased by 0.3 per cent, from Dh1,411.4 billion at the end of December 2016 to Dh1,415.6 billion at the end of January 2017. M3 equals M2 plus government deposits at banks operating in the UAE as well as at the Central Bank.
