UAE – Mubasher: Foreign exchange reserve assets by the Central Bank of the UAE (CBUAE) declined by 7% year-on-year (YoY) during May, according to recent data.
Foreign assets decreased to AED 353.1 billion last month, down from AED 379.2 billion in May 2019.
On a monthly basis, the foreign assets by the CBUAE went down by 4.9%, compared to its level in April 2020 at AED 371.6 billion.
Bank deposits abroad decreased by 2% YoY to AED 314.92 billion, from AED 322.49 in May 2019, while securities plunged by 54% to AED 19.21 billion.
On the other hand, other foreign assets increased by 26% YoY to a total of AED 18.99 billion.
