The foreign assets held by the Central Bank of the UAE has increased to AED392.4 billion by the end of Q1, up 1.1 per cent over the previous quarter, according to a report by CBUAE.
 
The apex bank ascribed the growth mainly to AED85.9 billion quarterly increases in foreign securities and other foreign assets by 25.7% (AED 9.2 billion), overshadowing a reduction in current account balances and deposits with banks abroad by 26.1% (AED90.7 billion).
 
From March 2020 to March 2021, Central Bank Foreign Assets increased by 0.4%, YoY, added the report.
 
With regards to the country's twin bourses, the report said Abu Dhabi’s quarterly average Financial Market Index rose by 17% during the first quarter of 2021.
 
The quarterly average Market Capitalisation of companies listed at the Abu Dhabi Securities Exchange (ADX) surged by AED101 billion reaching AED826.7 billion at the end of the first quarter of 2021.
 
The Quarterly Traded Value also rose by 74.7% during the first quarter of 2021 reaching AED50.3 billion. However, on an annual basis, the Abu Dhabi Financial Market Index fell by 3.3%.
 
Dubai’s quarterly average Financial Market Index showed a growth of 9.2% during the first quarter of 2021. The quarterly average Market Capitalisation of companies listed on the Dubai Financial Market (DFM) increased by AED25.2 billion reaching AED 353.9 billion by the end of the first quarter of 2021.
 
Quarterly Traded Value rose by 4.8% during the first quarter of 2021 reaching AED 15.4 billion. On an annual basis, the Dubai Financial Market Index decreased by 14.1%.
 
In the meantime, Money Supply M1, which comprises Currency in Circulation outside Banks (Currency Issued - Cash at banks) plus Monetary Deposits, increased by 7.1% QoQ during the first quarter of 2021, said the CBUAE report.
 
On an annual basis, there was a 18.4% YoY climb in the monetary aggregate M1, reaching AED642.3 billion at the end of March, it added. 

 

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