According to the UAE News Agency, significant growth in foreign exchange deposits over the confidence enjoyed by the banking system among foreign dealers who make up a good percentage of bank customers in the state.
During the statistics of the Central Bank, it is clear that the continued increase in application deposits in foreign currencies has contributed to their total cumulative balance to approximately 199.66 billion dirhams at the end of April 2021 compared to AED 183.74 billion in December 2020.
The deposits in foreign currencies constitute about 13.1% of the total value of deposits for different categories at the end of April this year.
It shows through statistics that the total deposit balance of foreign currencies at national banks at the end of April at the end of April 148.35.5 billion, is more than 74% of its total balance for the banking system. As recorded the rest of the percentage in favor of foreign banks State.
It is noteworthy that the Movement of the General Index for this type of deposit has been volatile during the last quarter of 2020 before improvement is returned at the beginning of 2021 and its total balance is given large leaps before settling at the registered level in April.
