UAE Central Bank’s foreign currency balances reach AED400 billion in January

ABU DHABI The foreign currency balance of the Central Bank of the UAE jumped to AED400 billion in January 2020, a rise of 1.3 percent compared to AED394.73 billion in December 2019.

The bank’s statistics showed that the increase is due to the rise of balances and deposits held in banks abroad, which amounted to some AED369 billion, a growth of around one percent compared to AED365.68 billion in December 2019.

According to the criteria followed by the bank, its assets in foreign currencies do not include its reserves and the special drawing rights of the International Monetary Fund.

The balance of the bank’s securities held until maturity reached around AED11.47 billion in January while the balance of other foreign assets amounted to AED19.49 billion in the same month.

Source: WAM Emirates News Agency