UAE Central Bank posts sharp rise in foreign currency supply

Abu Dhabi: The UAE Central Bank on Sunday said its total assets have increased by 10.8 per cent to Dh391.96 billion in the first half of this year.

The total foreign currency supply at the UAE Central Bank surged to Dh338.34 billion by the end of June, a growth of Dh47.6 billion, a 16.37 per cent increase from the beginning of 2017.

The bank said growth in bank balances and deposits overseas were the driving forces behind the rise.

Held-to-maturity securities have risen in value during the same period from Dh101.46 billion to Dh104.33 billion, while “other foreign assets” increased from Dh5.29 billion to Dh6.36 billion.