UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021

UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021

The foreign assets held by the Central Bank of the United Arab Emirates (CBUAE) increased to Dhs392.4bn by the end of Q1 2021, a quarter-on-quarter of 1.1%, a CBUAE report shows. The apex bank attributed the growth mainly to Dhs85.9bn quarterly increases in foreign securities and other foreign assets by 25.7 per cent (Dhs9.2bn), overshadowing a reduction in current account balances and deposits with banks abroad by 26.1 per cent (Dhs90.7bn). From March 2020 to March 2021, Central Bank Foreign Assets increased by 0.4 per cent, year-on-year added the report. With regards to the country's twin bourses, the report said Abu Dhabi's quarterly average Financial Market Index rose by 17 per cent during Q1 2021. The quarterly average market capitalisation of companies listed at the Abu Dhabi Securities Exchange (ADX) increased by Dhs101bn reaching Dhs826.7bn at the end of the first quarter of 2021. The Quarterly Traded Value also rose by 74.7 per cent during the first quarter of 2021 reaching Dhs50.3bn. However, on an annual basis, the Abu Dhabi Financial Market Index fell 3.3 per cent. Dubai's quarterly average Financial Market Index showed a growth of 9.2 per cent during Q1 2021. The quarterly average market capitalisation of companies