Abu Dhabi - Mubasher: The UAE’s central bank has reported a 4.2% increase in international reserves during February 2018, registering AED 342.447 billion, compared to AED 328.65 billion in January.
Total foreign liabilities grew 3% to AED 599.39 billion in the second month of 2018 versus AED 582.56 billion a month earlier.
The increase in foreign liabilities is an indicator of the growth in global banks’ and financial firms’ confidence in the Emirati banking sector.
Moreover, the UAE-based banks’ foreign assets added 1.6% month-on-month in February, recording AED 594.25 billion, the central bank’s data showed.
On the other hand, foreign currency deposits went down to AED 270.69 billion in February, in comparison with AED 274.58 billion in the month before.
In the second month of this year, government deposits tumbled to AED 201.44 billion versus AED 203.68 billion in the first month of 2018.
