Dubai-Mubasher: The Central Bank of the UAE posted a 3.9% rise in its foreign assets to AED 285.5 billion ($77.8 billion) year-on-year in October, according to official data.
There would be an appropriate adjustment in interest rates in the UAE, especially in the short-term, will follow any rise in interest rates in the US, Mubarak Rashed Al Mansouri, Governor of the Central Bank of UAE, said at the Middle East Banking Forum in Dubai.
The bank is monitoring potential risks to the UAE banking sector in the context of lower oil prices and customer deposits, he added.
Most Gulf member states including the UAE tie their currencies to the US dollar, thus limiting their room to pursue independent monetary policies.
