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22-05-14

UAE's bank deposits grow 2.5 percent in March

(MENAFN) Central Bank of the UAE said that total bank deposits boosted by 2.5 percent in March this year, reaching USD362.555 billion on the back of higher resident and non-resident deposits, according to Khaleej Times. The money supply aggregate M0 (currency in circulation plus currency at banks) boosted by 1.7 percent to reach USD17.77 billion in March compared to USD17.4784 billion in February. The money supply aggregate M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks) boosted by 3.9 percent, from USD107.974 billion at the end of February 2014 to USD112.16 billion at the end of March 2014.