UAE Central Bank reports 12% rise in foreign currency assets - The National

UAE Central Bank reports 12% rise in foreign currency assets - The National:

"Total foreign currency assets held by the Central Bank of the UAE abroad surged 12 per cent annualy in January as current account balances rose and deposits with foreign banks strengthened. The foreign assets of the central bank reached Dh326 billion at the end January, up from Dh290.7bn recorded for the same month in 2017, UAE’s official news agency WAM reported, citing figures from the UAE’s banking regulator. The surge in the central bank’s foreign assets was driven by the rise in current account balances and deposits with banks abroad to Dh254.9bn in January 2018, from Dh129.8bn same time last year. The foreign assets exclude the central bank’s Reserve Tranche Position and Special Drawing Rights holdings with the International Monetary Fund. Gross bank assets, including bankers’ acceptances, recorded a month-on-month slide of 0.3 per cent, falling from Dh2.695 trillion at the end of December 2017 to Dh2.688tn at the end of January 2018, figures showed. "



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