Thursday 20, September 2018 by Kudakwashe

CBUAE's forex reserve surges to AED 329.5 billion in August


The foreign assets exclude Central Bank of the UAE (CBUAE) reserve tranche position and special drawing rights holdings with the International Monetary Fund (IMF).

The CBUAE announced that its total foreign currency assets have surged to AED 329.5 billion during August from AED 326.4 billion in April, as current account balances rose and deposits with foreign banks strengthened to AED260.8 billion against AED255 billion in April.

Monetary aggregates, increased by around AED 76 billion during the first eight months of the year to hit AED 1.56 trillion from AED 1.48 trillion in January.

The Government deposits amounted to AED 278 billion in August, while monetary deposits hit AED 420 billion and quasi-monetary deposits stood at AED 791 billion, according to local newswire, WAM.

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