Abu Dhabi – Mubasher: The Central Bank of the UAE has reported a 23.1% increase in international reserves during November, registering AED 404.3 billion ($110.09 billion), compared to AED 328.3 billion ($89.40 billion) in the same month in 2017.
The increase in foreign reserves reflects the distinctive financial and economic status boasted by the UAE, which is affirmed by global rating agencies.
By the end of November, net international reserves held by UAE-based banks recorded AED 60.2 billion, versus AED 16.8 billion in December 2017, the central bank’s data showed.
On a monthly basis, the central bank’s net reserves reached AED 344.1 billion in November, compared to AED 19.1 billion in October.
