UAE – Mubasher: Total foreign assets of the Central Bank of the UAE (CBUAE) increased by 3.5% month-on-month in May, according to the CBUAE’s data.
The central bank’s foreign-currency assets amounted to AED 379 billion ($101.04 billion) in May from AED 366 billion ($99.62 billion) in April.
Year-on-year, foreign assets grew by 16%, compared to AED 327 billion ($89 billion) in May, the CBUAE added.
The increase in foreign assets was mainly driven by a 25% growth in the value of banks’ balances and external deposits, reaching AED 322.49 billion.
