Abu Dhabi – Mubasher: Certificates of deposits (CDs) issued by the Central Bank of the UAE (CBUAE) surged 15.8% to AED 135.05 billion in December 2017, up from AED 116.61 billion a month earlier, the CBUAE revealed on Sunday.
The central bank’s CDs value soared 24.8% or AED 27 billion during 2017.
The CBUAE has raised the interest rates three times last year to reach 1.75% after the Fed's decision to increase the US' dollar’s taxes. Given that the AED is pegged to the dollar.
CDs represent good investments for many investors in the UAE.
