AED 326.6 billion balance of foreign currencies in May

Media In Abu Dhabi 26 June 2018 / WAM /
The UAE Central Bank’s balance of foreign currency stood at AED 326.6 billion in May compared to AED 326.4 billion in April.
Statistics from the Central Bank of Egypt showed that bank balances and deposits with banks abroad continued to rise from 255.52 billion dirhams in April to 257.23 billion dirhams in May.
The balance of foreign assets does not include the Bank’s reserve and special drawing rights (SDR) with the IMF as per the Central Bank’s standards.
In terms of the monetary aggregates of the banking system in general, liquidity rose in its comprehensive concept (N3) by 5.9 billion dirhams during the month of May, which increased the total cumulative balance to 1.539.7 trillion dirhams compared to 1.534 trillion dirhams in April before.
Government deposits rose to 235.3 billion dirhams in May, while bank deposits reached 429.3 billion dirhams and cash deposits stood at 804.3 billion dirhams.
On the other hand, the developments in the monetary base amounted to AED 350 billion in May compared to AED 345.3 billion at the end of April, of which AED 125.2 billion was for the certificates of deposits and AED 124.4 billion for the banks’ required reserve balance of AED 86.8 billion. Of banks at the Central Bank of 13.6 billion dirhams