New deposits of 11 billion dirhams in local currency with the banking system within two months – Economy – Local

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Deposits in local currency / dirhams with the UAE banking system increased by 11 billion dirhams during the first two months of the year 2021, according to figures issued by the UAE Central Bank.

In light of the continued activity of deposits in local currency with the banking system, their total cumulative balance increased to 1.094 trillion dirhams at the end of February of this year compared to 1.083 trillion dirhams in December of 2020.

Deposits in local currency accounted for about 71% of the total deposits in all categories and currencies with the UAE banking system, which amounted to 1.545 trillion dirhams at the end of February of this year.

It is evident through the figures that the largest part of deposits in local currency was in the category of demand deposits, with a value of 534.5 billion dirhams at the end of last February, compared to approximately 513.1 billion dirhams in December 2020.

As for the value of deposits in local currency in the category of time deposits of all time, it reached approximately 372.7 billion dirhams in February, compared with 389.3 billion dirhams in December 2020.

The figures show that the value of local currency deposits in the savings account amounted to 187.44 billion dirhams at the end of February, compared to approximately 185.2 billion dirhams in December 2020.

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