Abu Dhabi – Mubasher: Foreign-currency reserves held by the UAE’s banks reached around AED 423.3 billion in the first quarter of 2019, rising AED 69 billion quarter-on-quarter, data by the Central Bank of the UAE (CBUAE) showed.
The CBUAE has recorded international reserves of AED 375 billion at the end of March, compared to AED 331.4 billion in the year-ago period, according to data.
Banks operating in the GCC nation have provided AED 1.16 trillion in loans and credit facilities for the private sector at the end of last March, up by AED 39 billion year-on-year, the central bank highlighted.
On the other hand, the central bank said its gold reserve amounted to AED 1.143 billion at the end of the third month of 2019, versus AED 1.134 billion in March 2018.
The CBUAE’s reserve of the precious metal increased since the beginning of the year due to an improvement in gold prices over the past period.
