The central bank injects AED 11.3 billion into the market during September

Media In – Abu Dhabi 18 October 2018 / WAM

/ The Central Bank of UAE returned to inject liquidity into the banking system at a value of 11.3 billion dirhams during the month of September, after the resort to withdraw the surplus from the previous August. The return of the Central Bank to inject liquidity again to meet the needs of the market of cash, especially as the continued growth of most economic sectors and the expansion of its activities, which requires up to the banks by providing the necessary funding. According to the latest Central Bank reports, the value of certificates of deposits at the end of last September reached AED 121.4 billion compared to AED 132.7 billion in August. Certificates of deposit are one of the tools used by the Central Bank to achieve the objectives of its monetary policy and management of liquidity in the market, in addition to other tools that contribute to control the movement of cash and in a way that serves the national economy in general .. In August, the central bank withdrew AED 11.7 billion in surplus liquidity after withdrawing 5.2 billion dirhams in the banking system in July. It is clear through the analysis that the Central Bank has followed a prudent policy since the beginning of 2018 in managing the movement of liquidity in the banking system and in a way that contributed to directing the service of the national economy and the process of overall growth. It is noteworthy that the largest injection of liquidity in the market by the Central Bank recorded during the month of April and amounted to 16 billion dirhams before returning to withdraw 7 billion dirhams in May, where the balance of certificates of deposit 125.2 billion dirhams and remained at the same level in June Of the current year.