FX.co ★ UAE M3 Money Supply Growth Cools to 15.1% in May, Easing from April’s 17.6% YoY

The United Arab Emirates’ broad money supply growth moderated in May 2026, with M3 expanding 15.10% year-over-year, down from a 17.60% increase reported in April 2026. The figures, updated on 28 July 2026, indicate a deceleration in the pace of monetary expansion when comparing each month to its corresponding month a year earlier.

The year-over-year comparison framework shows that while liquidity in the UAE economy continues to grow at a double-digit rate, the momentum has cooled from the previous month. April’s reading reflected a 17.60% rise versus April a year earlier, whereas May’s 15.10% figure represents a slower but still robust expansion relative to May of the prior year.

This shift in M3 growth will be closely watched by market participants and policymakers, as broad money supply is often viewed as a key indicator of underlying liquidity conditions and potential inflationary pressures within the UAE’s financial system.