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UAE C.bank foreign reserves rise 5% in June

UAE C.bank foreign reserves rise 5% in June
The Central Bank of the UAE on Sunday reported a 4.9% year-on-year increase in foreign reserves in June

Abu Dhabi – Mubasher: The Central Bank of the UAE on Sunday reported a 4.9% year-on-year increase in foreign reserves in June.

The figures showed that the bank’s foreign reserves reached AED 338.34 billion ($92.09 billion) in June 2017 from AED 322.41 billion ($87.75 billion) in May 2017.

In June 2017, the bank posted a 7.73% year-on-year surge in foreign assets, compared to AED 314.05 billion in June 2016.

The data also showed that foreign deposits went up to AED 277.65 billion in June 2017 from AED 215.66 billion in May 2017.