Abu Dhabi – Mubasher: Quasi-cash deposits in the UAE rose last July by 22 percent on an annual basis.
According to data issued by the Central Bank of the Emirates, quasi-cash deposits reached 1.077 trillion dirhams last July, compared to 885.4 billion dirhams in July 2022, an increase equivalent to 191.7 billion dirhams.
Quasi-cash deposits increased on a monthly basis by 0.54 percent, equivalent to 5.8 billion dirhams, compared to about 1.071 billion dirhams in June.
During the first seven months of this year, deposits increased by about 11.5 percent compared to about 966.1 billion dirhams in December of last year, an increase of 110.9 billion dirhams.
Cash deposits rose on an annual basis by 7.5 percent to 669 billion dirhams in July, compared to 622.1 billion dirhams in July 2022, an increase equivalent to 46.9 billion dirhams, while they rose on a monthly basis by 0.12 percent compared to 668.2 billion dirhams last June.
Cash deposits increased during the first seven months of this year by about 5.25 percent, compared to 635.6 billion dirhams in December of last year, an increase equivalent to 33.4 billion dirhams.
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