Central Bank’s total foreign assets near AED339.81 billion in February

The UAE Central Bank’s total foreign assets surged to an equivalent of AED339.81 billion during February, a growth of 4.2 percent from AED326 billion in January.

According to statistics issued by the CBUAE, the current account balances and deposits with banks abroad increased from AED254.91 billion in January to AED266.530 billion in February.

According to CB criteria, the foreign assets do not include CBUAE’s reserve tranche position and SDR holdings with the IMF.

In the meantime, M3, which includes currency in circulation outside banks, quasi-monetary deposits and government deposits hit AED1,486.3 billion in February, against AED1,481 billion in January. Government deposits reached AED201.4 billion in February, while monetary deposits amounted to AED439.7 billion and quasi monetary deposits to AED775.2 billion.

Currency issued increased from AED83.2 billion in January to AED84.2 billion in February, while currency in circulation outside banks jumped from AED68.3 billion in January to AED70 billion in February.

Source: Emirates News Agency