UAE -Mubasher: The total foreign assets at the Central Bank of the UAE (CBUAE) surged by 40.20% year-on-year (YoY) to AED 708 billion at the end of February 2024 from AED 505.10 billion

Month-on-month (MoM), the CBUAE’s foreign assets rose 2% in February from AED 695.04 billion in January, according to the Emirates News Agency (WAM).

The central bank ascribed the rise in foreign assets to a 51% YoY surge in current account balances and deposits with banks abroad to AED 467.56 billion on 29 February from AED 309.90 billion.

CBUAE’s foreign assets included foreign investments of AED 189.37 billion in February, a 28.90% YoY surge from AED 146.90 billion.