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Mon 19 Jan 2009 10:54 AM

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UAE money supply growth dips to 33.4% Sept-end

Money growth in second-largest Arab economy grows to $226.3bn.

Money supply growth in the UAE slowed to 33.36 percent at end-September compared to 35.85 percent growth at end-June, according to data released by the UAE central bank on Monday.

M3, the broadest measure of money circulating in the second-largest Arab economy, grew to 831.34 billion dirhams ($226.3 billion) on Sept. 30, the central bank said in a quarterly bulletin on its website.

That compared with 623.40 billion dirhams ($169.7 billion) a year earlier and 815.51 billion dirhams ($222 billion) at the end of June. (Reuters)

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