|20 November, 2019

UAE central bank’s assets grow 13% in October

Foreign securities shrank by 96%in October

General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

General view of Central Bank of The U.A.E. on January 3, 2017 in Dubai, United Arab Emirates.

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Abu Dhabi – Mubasher: Total foreign assets of the Central Bank of the UAE (CBUAE) rose by 13.45% or AED 44 billion ($11.98 billion) year-on-year (YoY) during October 2019.

The assets registered AED 370.73 billion in October of the year when compared to AED 327.06 billion over the same month in the previous year, according to recent data published by CBUAE.

On a monthly basis, the bank’s foreign assets edged lower by 0.8% in October when compared to AED 374.33 billion in September of the same year.

Moreover, current account balances and deposits at non-UAE based banks increased to AED 350.12 billion in October from AED 256.29 billion in the corresponding month in 2018, while other foreign assets totalled AED 18.29 billion in October, up by 13% from AED 15.55 billion.

Meanwhile, foreign securities shrank by 96% to AED 2.32 billion in October from AED 55.22 billion a year earlier.

Source: Mubasher

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