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The Central Bank: 80.8 billion dirhams of money circulated outside banks

2020-02-21T10:18:59.403Z

The Central Bank stated that the cash flow circulating and being dealt with in the local market outside the banks reached 80.8 billion dirhams at the end of last January, compared to 78.2 billion dirhams at the end of the previous December, with a monthly increase of 2.6 billion dirhams. And confirmed, in data released yesterday, filled



The Central Bank stated that the cash flow circulating and being dealt with in the local market outside the banks reached 80.8 billion dirhams at the end of last January, compared to 78.2 billion dirhams at the end of the previous December, with a monthly increase of 2.6 billion dirhams.

He confirmed, in statements issued yesterday, that he possesses foreign assets of about 400 billion dirhams, which are distributed between current accounts and deposits with banks outside the country, as well as investments in securities held until the due date.

The monetary base of the state at the end of last January reached 408.5 billion dirhams, consisting of cash issued at a value of 95.1 billion dirhams, reserves of 131 billion dirhams, certificates of deposit valued at 156.3 billion dirhams, and finally bank surplus accounts of about 26.3 billion dirhams.

The total assets of the Central Bank (in dirhams) at the end of last January were 447 billion dirhams, compared to 446 billion dirhams at the end of last December, an increase of one billion dirhams.

The balance of certificates of deposit at the end of last January recorded 156 billion dirhams, compared to 160 billion dirhams at the end of last year, a decrease of four billion dirhams, and a decline of 2.5%.

According to the data, cash deposits with the Central Bank during the first month of this year recorded 16.5 billion dirhams, while withdrawals from it amounted to 17.9 billion dirhams, during the same month.

The value of money transfers made between banks through the Emirates Financial Transfer System reached 635 billion dirhams, while customer transfers recorded 320.6 billion dirhams.

According to the «Central», the total checks that were traded during last January in the market, and were cleared by using photocopies, two million checks, with a total value of 101 billion dirhams.

The Central Bank indicated that the total bank assets, including bank acceptances, amounted to three trillion and 80 billion dirhams at the end of last January, compared to three trillion and 85 billion dirhams at the end of December 2019, while the total bank credit amounted to one trillion and 737 billion dirhams at the end of last January, compared with one trillion And 759 billion dirhams at the end of the previous December.

During last January, total bank deposits decreased by 43.9 billion dirhams, as a result of a decrease of 32.9 billion dirhams in resident deposits, and a decrease of 11 billion dirhams in non-resident deposits.

The data showed that the N1 money supply increased by 5% from 514.8 billion dirhams at the end of December 2019 to 540.4 billion dirhams at the end of January 2020.

The money supply «N2» increased by 1.1% from 1.411 trillion dirhams at the end of last December to 1.427 trillion dirhams at the end of last January.

The N3 money supply decreased by 1.6% from 1.717 trillion dirhams to 1.689.7 trillion dirhams during the comparison period.

The Central Bank attributed the increase in the money supply, "N1", to an increase of 2.6 billion dirhams, and 23 billion dirhams in cash circulating outside banks and cash deposits, respectively, while the money supply "N2" increased as a result of the high money supply, "N1", despite A decrease of 10.3 billion dirhams in semi-cash deposits. With the decrease in the money supply «N3» due to a decrease in government deposits of 43 billion dirhams, despite the increase in the money supply «N1» and «N2».

101

One billion dirhams, worth two million checks, were traded last January.

408.5

Billions of dirhams the size of the country's monetary base at the end of last month.

447

Billion dirhams assets of the Central Bank at the end of last January.

Source: emara

Business 2020-04-08T06:19:20.945Z
business 2020/04/08    

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