Central Bank announces Money Supply aggregate M1 increased to Dh 455.7bn

The Central Bank has announced that the Money Supply aggregate M1 increased by 0.5%, from Dh 453.6 billion at the end of September to Dh 455.7 billion at the end of October, 2015.

Money Supply aggregate M2 also increased by 0.7%, from Dh1,176.4 billion at the end of September to Dh1,185.1 billion at the end of October.

However, Money Supply aggregate M3 decreased by 0.1%, from Dh1,341.9 billion at the end of September to Dh1,340.8 billion at the end of October.

The increase in M1 and M2 was largely attributed to an increase of Dh0.5 billion in Monetary Deposits and an increase of Dh6.6 billion in Quasi-Monetary Deposits, respectively. The decrease in M3 was attributed to a decrease of Dh9.8 billion in Government Deposits.

Gross bank assets, including bankers' acceptances, decreased by 0.1%, from Dh2,422.2 billion at the end of September to Dh2,420.7 billion at the end of October.

Gross credit increased by 0.2%, rising from Dh1,478.5 billion at the end of September to Dh1,482.0 billion at the end of October.

Total bank deposits decreased by Dh1.4 billion during October, falling to Dh1,435.4 billion. This decrease was predominantly attributed to a decrease of Dh2.7 billion in Resident Deposits.