The UAE Central Bank announced today that at the end of November 2010, Money Supply M1 (currency in circulation plus monetary deposits, current accounts and call accounts at banks) remained at the same level as in October, at AED 231.4 billion.
Broad Money Supply, M2 which comprises M1 plus quasi-monetary deposits (the sum of resident time and savings deposits in Dirhams, commercial prepayments in Dirhams and resident deposits in foreign currencies) decreased from AED 797.4 billion as at the end of October 2010 to AED 784.6 billion at end of November of the same year (-1.6%), due to a decrease in quasi-monetary deposits by AED 12.8 billion, the Bank said in a statement outlining monetary and banking developments for November.
Broader Money Supply M3 (M2 plus government deposits at the banking sector) decreased from AED 998.7 billion at the end of October 2010 to AED 987.0 billion at the end of November of the same year (-1.2%).
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