- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:32 05:49 12:21 15:48 18:47 20:04
The Central Bank has announced that the Money Supply aggregate M1 decreased by 0.9 per cent from Dh493.4 billion at the end of April, 2016, to Dh488.9bn at the end of May, 2016.
The Money Supply aggregate M2 decreased by 1.4 per cent, from Dh1203.1bn at the end of April, 2016 to Dh1186.4bn at the end of May, 2016.
The Money Supply aggregate M3 also decreased by 0.2 per cent, from 1373.9bn at the end of April, 2016 to Dh1371.3bn at the end of May, 2016.
The reduction in M1 was mainly due to a decrease of Dh4.8bn in Monetary Deposits. The decrease in M2 was mainly attributed to a reduction of Dh12.2bn in Quasi-Monetary Deposits. However, the increase in Government Deposits by Dh14.1bn mitigated the reduction in M3.
Gross bank assets, including bankers’ acceptances, increased by 0.6 per cent, going from Dh2491bn at the end of April, 2016 to Dh2506.1bn at the end of May, 2016.
Gross credit increased by 1 per cent, rising from Dh1516.3bn at the end of April, 2016 to Dh1531.8bn at the end of May, 2016.
During May, 2016, total bank deposits increased by Dh6.3bn due to Dh2bn and Dh4.3bn increases in Resident Deposits and Non-Resident Deposits, respectively.
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