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UAE monetary base up 3.5% MoM in April

UAE monetary base up 3.5% MoM in April
The central bank’s current account balances totalled AED 23.5 billion at the end of April

UAE – Mubasher: The UAE monetary base rose by 3.5% in April to around AED 386 billion, versus AED 373 billion in March, data by the Central Bank of the UAE showed.

The monthly growth was mainly driven by improvement across all of the monetary base’s components, including reserve requirements, currency issued, certificates of deposit, and current account balances, the state-run Emirates News Agency (WAM) reported.

Furthermore, the central bank’s current account balances totalled AED 23.5 billion at the end of April with reserve requirements worth AED 124.1 billion, data revealed.

Meanwhile, currency issued amounted to AED 89.3 billion with certificates of deposit standing at AED 149 billion, according to the central bank.