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Coin issuance in UAE records highest levels: UAE Central Bank

Coins maintained upward trend, crossing AED1 billion barrier for first time in April

The total number of issued coins hit a record high during this year, reaching its peak at the end of last August, according to the UAE Central Bank.

According to the statistics issued by the bank, the coins in the UAE kept their upward trend, crossing the barrier of AED1 billion for the first time in April.

Meanwhile, the total issued banknotes decreased during the same month, retreating below the AED70bn level it has maintained for three months, Al Bayan reports.

The total number of banknotes issued in the country amounted AED 70.25bn at the end of the first eight months of 2015, recording its first monthly decline after rising for six consecutive months compared with AED 72.68bn at the end of July, representing a monthly decline of 3.3 per cent or AED 2.42bn.

The value recorded a monthly rise of approximately AED 125.02 million with a growth of 0.17 per cent compared with AED72.55bn at the end of the first half of this year, AED 69.35bn at the end of the first quarter, AED68.52bn at the end of February and AED 66.6bn at the end of January 2015.