350 billion dirhams the monetary base of the banking system in the country

Media In – Abu Dhabi 27 June 2018 / WAM /
The monetary base of the banking system grew by 1.4% to 350 billion dirhams at the end of May compared to 345.3 billion dirhams in April, according to the latest statistics issued by the UAE Central Bank today in its report on the UAE monetary survey.
The increase in the monetary base came as a result of the increase in the issued cash by 3% to 86.8 billion dirhams in May, as well as 1% growth in the mandatory reserves of banks which reached about 124.4 billion dirhams in the same period of monitoring and certificates of deposit held with banks by 5.8% AED 125.2 billion.
On the other hand, the Central Bank survey shows that the surplus reserves item for banks and other financial institutions decreased by 30.3% to 13.6 billion dirhams at the end of May.