UAE central bank’s foreign currency assets up to $103bln in May

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ABU DHABI – The total foreign currency assets held by the Central Bank of the UAE increased to circa AED379.3 billion by the end of May 2019, a growth of 16.1 percent from AED326.6 billion on the same month last year, as current account balances and deposits with foreign banks strengthened to AED322.5 billion from AED257.23 billion in May 2018, according to the CBUAE figures.

The foreign assets exclude CBUAE Reserve Tranche Position and Special Drawing Rights holdings with the International Monetary Fund. In the meantime CBUAE’s held-to-maturity securities rose to around AED41.65 billion in May, with other foreign assets up to AED15.1 billion during the monitored period.

© Copyright Emirates News Agency (WAM) 2019.

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