Media ININ Economy We Trust
24-04-2019 Media in\ Abu Dhabi
The Central Bank of UAE’s foreign currency balance rose to AED 377 billion during the month of March this year with a growth of 4% to AED 14.5 billion compared to AED 362.5 billion at the end of 2018.
According to statistics issued by the Central Bank of UAE today, the rise of the Central Bank of foreign currency to this level contributed to the rise in bank balances and deposits with banks abroad from about 294 billion dirhams in December 2018 to 307.56 billion dirhams at the end of March.
According to the criteria adopted by the Central Bank, its foreign currency assets do not include the Bank’s reserve and Special Drawing Rights (SDRs).
On the other hand, liquidity continued in its overall concept (3) / rise, amounting to about 1.632 trillion dirhams during the month of March 2019 compared to 1.602 trillion dirhams in December 2018.
Government deposits rose to AED 303.1 billion in March, while bank deposits reached AED 438.1 billion and cash deposits of AED 816.6 billion.
At the level of cash source, the Central Bank’s statistics showed an increase in the issued cash of 88.3 billion at the end of March. Cash from the public / off-balance sheet reached AED 74 billion during the same monitoring period.
In terms of developments in the monetary base, it reached AED 373 billion at the end of last March, of which AED 123.1 billion was due to banks’ mandatory reserve item, AED 139.2 billion for certificates of deposits, AED 88.3 billion for issued cash and AED 22.3 billion for current bank accounts.
