How much in foreign assets does UAE CB have?

By Angel Chan

ABU DHABI 25 March 2018: The UAE Central Bank’s total foreign assets surged to an equivalent of Dh339.81 billion during February, a growth of 4.2 per cent from Dh326 billion in January.

According to statistics issued by CBUAE and carried by Wam, the current account balances and deposits with banks abroad increased from Dh254.91 billion in January to Dh266.530 billion in February.

According to CB criteria, the foreign assets do not include CBUAE’s reserve tranche position and SDR holdings with the IMF.

In the meantime, M3, which includes currency in circulation outside banks, quasi-monetary deposits and government deposits hit Dh1,486.3 billion in February, against Dh1,481 billion in January. Government deposits reached Dh201.4 billion in February, while monetary deposits amounted to Dh439.7 billion and quasi monetary deposits to Dh775.2 billion.

Currency issued increased from Dh83.2 billion in January to Dh84.2 billion in February, while currency in circulation outside banks jumped from Dh68.3 billion in January to Dh70 billion in February.