Money supply in the UAE grew 1.3 percent year-on-year at the end of February, the slowest rate of growth since at least 2001, central bank data showed on Thursday.
M3, the broadest measure of money circulating in the economy and an indicator of future inflation, grew 4.1 percent in January.
It fell to 926.7 billion dirhams ($252.4 billion) at the end of February, from 934.1 billion at the end of January, the data showed.
Money circulating in the second-largest Arab economy and the world's third largest oil producer had more than doubled in the two years to the end of 2008. (Reuters)For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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