AED71.2 billion increase in cash deposits over 12 months: CBUAE

AED71.2 billion increase in cash deposits over 12 months: CBUAE

ABU DHABI/ WAM The Central Bank of the UAE (CBUAE) revealed in a report issued today an increase in cash deposits to AED725.8 billion in February 2024, with an annual increase of 11 percent or the equivalent of AED71.2 billion, compared to AED654.6 billion in February 2023. The Central Bank’s cash aggregates statistics explained that ...

ABU DHABI/ WAM

The Central Bank of the UAE (CBUAE) revealed in a report issued today an increase in cash deposits to AED725.8 billion in February 2024, with an annual increase of 11 percent or the equivalent of AED71.2 billion, compared to AED654.6 billion in February 2023.

The Central Bank’s cash aggregates statistics explained that cash deposits increased on a monthly basis by 1.92 percent or the equivalent of AED13.7 billion, compared to about AED712.1 billion in January 2024.

The Central Bank stated that quasi-cash deposits rose to AED1.258 trillion in February of 2024, with an annual increase of 27.4 percent, compared to AED987.4 billion in February 2023, an increase equivalent to AED270.3 billion.

The Central Bank pointed out that quasi-cash deposits increased on a monthly basis by about 5 percent or the equivalent of AED59.4 billion, compared to about AED1.198 trillion in January of 2024.

According to the Central