Abu Dhabi - Mubasher: The Central Bank of the UAE announced that Money Supply aggregate M2 increased by 0.4%, from AED 1.244 trillion in October to AED 1.248 trillion at the end of November 2017.

Meanwhile, Money Supply aggregate M1 decreased by 0.3%, from AED 492 billion at the end of October to AED 490.3 billion at the end of November 2017, the bank said in a statement as reported by Emirates News Agency (WAM).

The Money Supply aggregate M3 also increased by 1.8%, from AED 1.467 trillion to AED 1.494 trillion.

The decrease in M1 was mainly due to a reduction in monetary deposits, while the rise in M2 was brought about by an increase in Quasi-Monetary Deposits, the bank explained.

M3 mainly increased due to an increased M2 and the rise in government deposits, overshadowing the reduction in M1, the statement noted.