CBUAE foreign currency assets rise to AED326.4 billion

ABU DHABI, Total foreign currency assets held by the Central Bank of the UAE surged 2.8 percent during April 2018 to AED326.4 billion, from AED317.44 billion during the same month in 2017, as current account balances rose and deposits with foreign banks strengthened, according to figures released by CBUAE today.

The foreign assets exclude CBUAE Reserve Tranche Position and Special Drawing Rights holdings with the International Monetary Fund.

In the meantime, the CBUAE held-to-maturity foreign securities dropped from AED140.8 billion in April 2017 to AED55.18. billion by the end of April 2018, while other foreign assets edged up from AED6.22 billion to AED15.7 billion during the same period.

Monetary aggregates, which include currency in circulation outside banks plus monetary deposits and quasi-deposits and government deposits, referred to as M3, increased by around AED56 billon by the end of April to hit AED1.534 trillion from AED1.478 trillion during the same month in 2017.

Government deposits reached AED221 billion in April, while monetary deposits hit AED446.7 billion and quasi-monetary deposits stood at AED795.7 billion.

Source: Emirates News Agency