The total balance of deposits in foreign currencies at UAE banks increased by 5% to reach approximately 381 billion dirhams in 2019 compared to 363.27 billion dirhams in 2018. p>
According to the Emirates News Agency, the statistics of the Central Bank of the Emirates showed that deposits in foreign currencies classified as deposits in various terms amounted to approximately 245.24 billion dirhams at the end of last year, an increase of 6.8% compared to 2018.
At the level of deposits in foreign currencies classified as demand deposits, its balance at the end of December 2019 reached 115.9 billion dirhams, a growth of 10% compared to its balance in 2018.
With regard to the balance of deposits in foreign currencies within the savings deposits segment, they amounted to approximately 19.77 billion dirhams during the past year, an increase of 18% compared to 2018.
Deposits in foreign currencies constitute 29.2% of the total deposits with national banks, which amounted to 1.303 trillion dirhams at the end of December 2019.
It is worth noting that the rest of the deposits in national banks, which amount to about 922 billion dirhams, are deposits in local currency / dirhams, according to the statistics of the Central Bank.
The continuous growth of the balance of deposits in foreign currencies in the UAE banks reflects the great confidence that it possesses among the customers, both inside and outside the country, especially in light of the large financial solvency it enjoys according to the rankings of many international financial institutions.
