By: Mahmoud Gamal
Dubai – Mubasher: The UAE’s central bank has reported a 27.4% hike in international reserves, or AED 90 billion, during the full-year 2018.
Foreign reserves recorded AED 418 billion from January to December 2018, compared to AED 328 billion in 2017.
The increase in foreign reserves will support the inflow of foreign investments in the GCC nation, economist Ali Al Hamoudi told Mubasher.
He added that having a strong and stable level of international reserves will attract many investors over the coming period.
This will also enhance investor confidence in monetary policy and exchange rate policies, Al Hamoudi pointed out.
