CBUAE's foreign currency assets hit AED 355.2bn in August

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UAE - Mubasher: The total foreign currency assets at the Central Bank of the UAE (CBUAE) increased by 1.3% to AED 355.2 billion in August, when compared to June 2020, the Emirates News Agency (WAM) reported. The CBUAE saw a rise in foreign currency assets for the third month in a row, according to the latest statistics by the central bank. Higher foreign currency balance is driven by an increase in the other assets to AED 32.43  billion in August. Meanwhile, the value of securities held to maturity grew to AED 12.66 billion, while the banks' balance and deposits abroad decreased to AED 310.11 billion. It is noteworthy to mention that in April, the CBUAE's total foreign currency assets increased by 1.6% year-on-year (YoY) to AED 371.6 billion. ...read more...