Al-Ittihad – Government deposits rise 27.5 billion dirhams to 286.7 billion dirhams

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Yousef Al Bustanji (Abu Dhabi)

Government deposits with the banking sector in the country increased by 27.5 billion dirhams during the month of April 2020, a growth of 10.6% to reach 286.7 billion dirhams, compared to 259.2 billion dirhams at the end of March 2020, according to statistics issued by the Central Bank yesterday.
As for the time deposits (which cannot be withdrawn without prior notice), they reached about 905 billion dirhams at the end of April 2020, a slight decrease of about 8 billion dirhams from their balance at the end of March 2020, while private deposits on demand (cash deposits) increased by 13 Billion dirhams to reach 469 billion dirhams at the end of April 2020 compared to 456 billion dirhams at the end of the previous month.
Cash circulating with the public outside the banks increased by 4.7 billion dirhams to 90.9 billion dirhams at the end of last month, compared to 86.2 billion dirhams at the end of March.
The issued cash increased by 2.5 billion dirhams to 107.7 billion dirhams at the end of April 2020, compared to 105.2 billion dirhams at the end of March 2020.
As a result of the total changes in the money supply in the local market, total liquidity in the national economy increased by 38 billion dirhams, a growth of 2.2% over the past month, to reach 1.752 trillion dirhams.
The balance of certificates of deposit with the Central Bank grew by 37% during the month of April to reach 199 billion dirhams, an increase of 54 billion dirhams above the level of its balance in March 2020, and this comes as a result of the Central Bank liberalizing about 50% of the preventive reserves held by the banks with the bank within the support plan announced About it as of early April.
The data also shows that the foreign central bank assets decreased by about 20 billion dirhams during the month of April 2020, as its balance decreased to 371 billion dirhams at the end of last month, compared to 391 billion dirhams at the end of March 2020.
As for the total assets of the Central Bank, they increased slightly by about 2 billion dirhams to reach 452 billion dirhams by the end of April 2020, supported by the increase in facilities and loans provided by the central bank to banks and financing companies in the country that increased by 23 billion dirhams, and the investment item increased by 10 Billions of dirhams and cash balances of the bank with values ​​of 5 billion dirhams, which achieved a tie up with a decrease in the deposit item of 35 billion dirhams during the same month, compared to its balance at the end of March 2020.





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