Abu Dhabi – Mubasher: Net foreign assets of the Central Bank of the UAE (CBUAE) surged 12% year-on-year in December 2017, according to the CBUAE's statement on Wednesday.
Foreign assets amounted to AED 347.66 billion at the end of December 2017, compared to AED 310.91 billion in the same period a year earlier, the statement showed.
The CBUAE attributed the growth of foreign assets to a 274% hike in banks' overseas deposits, equivalent to AED 256.5 billion.
Foreign securities dropped 43% or AED 84.5 billion, while other overseas assets fell 52% or AED 6.6 billion.
