6% growth in the monetary base in the UAE during the month of November

Media In Abu Dhabi, 17 December 2018,
The value of the monetary base in the UAE jumped to AED 371.6 billion by the end of November 2018, an increase of AED 22 billion and a growth of about 6% compared to AED 350.6 billion in October of the same year.
Figures from the UAE Central Bank show that the monetary base reached its highest level in nearly 11 months, supported by the improvement in most of the components that make up this important monetary indicator.
The index of the monetary base according to global monetary standards reflects the total money circulating in the economy of a particular country plus bank deposits with the central bank.
The net balance of current bank accounts at the UAE Central Bank increased by 36.3 billion dirhams during the month of November compared to 18.2 billion dirhams at the end of October of the same year.
In addition to the increase in reserve balance at the end of November, the reserve balance of banks increased to 121.8 billion dirhams and cash issued to 87.7 billion dirhams, while the certificates of deposits declined by a limited amount to 125.8 billion dirhams.