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UAE banks' guarantee letters, credit facilities hit AED 4.5trn in February

UAE banks' guarantee letters, credit facilities hit AED 4.5trn in February
Foreign currency derivatives balance jumped to AED 797.2 billion in February

UAE – Mubasher: The total cumulative balance of letters of guarantee and credit, liabilities, and other credit facilities at the Central Bank of the UAE (CBUAE) grew by 4.3% month-on-month (MoM) or AED 86 billion in February 2020.

The balance reached AED 4.533 trillion last month, up from AED 4.347 trillion in January, according to recent data by the CBUAE.

Meanwhile, the balance of foreign currency derivatives jumped to AED 797.2 billion in February from AED 766.3 billion in January.

The balance of interest returns on foreign exchange derivatives rose to AED 2.93 trillion from AED 2.76 trillion during the earlier month.