70.6 billion dirhams in cash out of banks at the end of November

MediaIn – Abu Dhabi – January 15, 2019 and WAM
The balance of cash traded outside banks operating in the UAE rose to AED 70.6 billion at the end of November 2018, an increase of AED 2.9 billion and a growth of 4.2% compared to AED 67.7 billion in December 2017.
Cash out of banks accounts for 4.4 percent of the UAE’s total monetary aggregates, which stood at 1.593 trillion dirhams at the end of November, according to figures from the Central Bank of the UAE.
Cash outside banks is classified according to the financial criteria in the “N1” cash supply, which is the sum of cash issued from cash in banks plus cash deposits.
A review of the out-of-the-bank cash flow index for the first 11 months of 2018 shows that there is a fluctuation but its overall balance continues above its 2017 high.
During the first quarter of 2018, the value of the balance was 69.9 billion dirhams, then rose to 71.1 billion dirhams at the end of the second quarter of the same year.
In the third quarter, the value dropped to 68.9 billion dirhams before the balance rose to 70.6 billion dirhams at the end of last November.
Cash outside the banking system in the UAE grew by 8.7% in 2017, accounting for 4% of the total N3 money supply, which includes cash and cash equivalents as well as government deposits.