The balance of foreign currencies in the UAE Central Bank continued to rise to the level of 406 billion dirhams at the end of February 2020, an increase of 47 billion dirhams and a growth of 13% compared to 359 billion dirhams In the same month in 2019.
According to the Emirates News Agency, it appears from the figures issued by the Emirates Central Bank that the index of its foreign exchange reserves maintained its bullish approach over the past years, which reflects the strength of the national economy.
During the month of October 2019, the central balance of foreign currencies reached 370.73 billion dirhams, before rising to 394.73 billion dirhams in November of the same year, and last December, the balance closed at the level of 394.73 billion dirhams.
With the beginning of the year 2020, the central bank balance of foreign currencies jumped during the month of January to about 400 billion dirhams, reaching 406 billion dirhams at the end of February of the same year.
And at the monthly level, the central statistics showed that the increase in the foreign currency balance during the month of February 2020 came with the support of the item of bank balances and deposits with banks abroad, which amounted to 369.78 billion dirhams, a growth of approximately 27.6% compared to 289.76 billion dirhams in the same month of 2019. p>
The central bank balance of securities held to maturity increased to almost 18.07 billion dirhams last February ... while the balance of other foreign assets item reached 18.09 billion dirhams during the same month.
According to the criteria followed by the Central Bank, its assets in foreign currency do not include the reserve segment of the bank and the special drawing rights of the International Monetary Fund.
