The Central Bank announced that money supply M0 (currency in circulation + currency at banks) increased by 1.1% from AED 55.1 billion at the end of July 2012 to AED 55.7 billion at the end of August 2012.

Money supply aggregate M1 (currency in circulation plus monetary deposits, i.e., current accounts and call accounts at banks) decreased by 0.5%, from AED 286.4 billion at the end of July 2012 to AED 285.0 billion at the end of August of the same year.

Money supply aggregate M2 which comprises of M1 and quasi-monetary deposits (resident time and savings deposits in Dirhams, commercial prepayments in Dirhams and resident deposits in foreign currencies), increased by 0.3%, from AED 832.5 billion at the end of July 2012 to AED 835.0 billion at the end of August of the same year.

Money supply aggregate, M3 (M2 plus government deposits at bank operating in the UAE as well as at the Central Bank) increased by 1.5%, from AED 1,033.0 billion at the end of July to AED 1,048.8 billion at the end of August of the same year.

Total bank deposits increased by 1.1% during the month of August 2012 to close at AED 1,127.1 billion. Meanwhile, total bank loans and advances (net of provisions and interest in suspense) decreased by 0.1% to reach AED 1,090.5 billion, and total bank assets increased by 0.5% to reach AED 1,733.8 billion, at the end of August.

During the first 8 months of 2012, intermediary monetary aggregate M2 increased by 1.1%, while bank loans and advances increased by 1.8% and bank deposits increased by 5.4%.

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