Central Bank foreign assets reach AED406 billion in February

Latest figures released by the Central Bank of the UAE note total foreign assets were valued at AED405.94 billion in February 2020.

This figure indicates an increase of approximately AED47 billion, or 13 percent, compared to the same month last year.

This growth in the Central Bank’s foreign assets balances reflect overall positive markers for the UAE market economy.

According to the Central Bank foreign securities totalled AED18.07 billion, a AED6.6 billion increase from January 2020. Meanwhile ‘other foreign assets’ reached AED18.09 billion in February 2020, a decrease of AED1.4 billion from the previous month.

Current account balances and deposits with banks abroad registered a growth of 27.6 percent this February, totalling AED369.78 billion compared to AED289.76 billion during February 2019.