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|17 December, 2018

UAE Central Bank foreign currency assets hit $94.28bln in November

Government deposits amounted to $83bln in November, while monetary deposits hit $111.3bln

The main branch for UAE Central Bank is seen in Abu Dhabi.

The main branch for UAE Central Bank is seen in Abu Dhabi.

REUTERS/Stringer

ABU DHABI - The total foreign currency assets held by the Central Bank of the UAE stood at AED346.3 bn against AED327 bn in October 2018, as current account balances and deposits with foreign banks strengthened to AED275.6 bn against AED256.3 bn, according to the CBUAE figures released today.

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

Monetary aggregates, which include currency in circulation outside banks plus monetary deposits and quasi-deposits and government deposits, referred to as M3, continued to increase in November and hit around AED1.593 trillion against AED1.566 trillion in October.

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Government deposits amounted to AED305.1 bn in November, while monetary deposits hit AED409 bn and quasi-monetary deposits stood at AED809 bn.

© Copyright Emirates News Agency (WAM) 2018.

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