The UAE’s Central Bank announced that money supply M0 (currency in circulation + currency at banks) decreased by 2.1 percent. from AED 53.2 billion at the end of November 2011 to AED 52.1 billion at the end of December of the same year.
Money supply aggregate M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks) decreased by 0.2 percent, from AED 264.6 billion at the end of November to AED 264.1 billion at the end of December of 2011.
Money supply aggregate M2 which comprises of M1 and quasi-monetary deposits (resident time and savings deposits in Dirhams, commercial prepayments in Dirhams and resident deposits in foreign currencies), increased by 0.5 percent, from AED 822.1 billion at the end of November to AED 825.8 billion at the end of December 2011.
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