Total bank deposits in UAE drop, but money in circulation grows: central bank data
Ankit Sharma
<p>Dubai: The UAE Central Bank monthly bulletin for the month of January showed an increase in both money in circulation and long-term deposits. However, short-term deposits decreased when compared with December figures.</p> <p>The 0.1 per cent increase in coins and money in circulation, to reach Dh486 billion at the end of January 2019, followed a Dh600 million increase in currency in circulation outside banks, the bulletin carried by WAM said.</p> <p>Long-term deposits also increased by 0.05 per cent to Dh1.60 trillion at the end of last month due to an increase in government deposits.</p> <p>However, short term deposits fell 0.2 per cent due to a Dh3.3 billion reduction in near money. Short-term deposits reached Dh1,31 trillion at the end of last January compared to a month earlier.</p> <p>“During January 2019, total bank deposits fell by Dh1 billion, due to Dh0.1 billion and Dh0.9 billion decreases in resident deposits and non-resident deposits, respectively,” the bulletin said.</p> <p>Source:-https://gulfnews.com/business/banking/total-bank-deposits-in-uae-drop-but-money-in-circulation-grows-central-bank-data-1.62168483</p>