By: Enas Bahgat

UAE – Mubasher: Total foreign assets of the Central Bank of the UAE (CBUAE) rose by 11.1% year-on-year or AED 37 billion in at the end of July, a survey conducted by Mubasher showed.

The bank’s foreign assets valued at AED 369.3 billion ($100.5 billion) at the end of July, as compared to AED 332.31 billion ($90.5 billion) in the corresponding period of 2018, the survey highlighted.

Month-on-month, the value of foreign assets fell by 2.1% or AED 7.94 billion, versus AED 377.24 billion ($103 billion) at the end of June.

Moreover, reserve assets included foreign currency deposits worth AED 327.08 billion ($89 billion) last July, up 24% from AED 262.89 billion ($71.5 billion) during the same month a year ago.

On the other hand, held-to-maturity assets dropped by 50% to AED 27.45 billion ($7.5 billion) at the end of July, compared to AED 55.20 billion ($15 billion) in July 2018.

Translated by: Mai Ezz El-Din