According to the Emirates News Agency, the figures issued by the Central Bank - within the report on monetary developments in the banking sector in the country - showed an increase in the balance of its certificates of deposit to the level of 146.5 Billion dirhams at the end of last February, compared to 138.5 billion dirhams during the month of December 2018.
The certificates of deposit are one of the tools used by the central bank to achieve the objectives of monetary policy and managing liquidity in the market, in addition to other tools that contribute in most of them to control the movement of cash and serve the national economy In the final tally.
The figures show that the value of excess liquidity that was withdrawn from the market during the month of December 2018 amounted to about 12.4 billion dirhams, compared to November of the same year, which was evident through The value of the deposit certificates balance increased from approximately 125.8 billion dirhams to 138.2 billion dirhams during the comparison period.
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