Total foreign currency assets up to AED359 bn in February

ABU DHABI, 26th March, 2019 (WAM) — Continuing its upward streak for the second straight month, the total foreign currency assets held by the Central Bank of the UAE increased to AED359 bn by the end of February 2019, a growth of 3.2 percent from AED348 bn in the preceding month, as current account balances and deposits with foreign banks strengthened to AED289.76 bn against AED278.86 bn in the month before, according to the CBUAE figures.

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

Other foreign assets increased from AED13.15 billion in January to AED14 bn by the end of February, while foreign securities decreased to AED55.23 bn from AED55.97 bn in January.

Source: WAM – Emirates News Agency