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CBUAE's foreign currency reserves hit AED 353.8bn in July

CBUAE's foreign currency reserves hit AED 353.8bn in July
The foreign securities held to maturity decreased by 67%

UAE - Mubasher: The total foreign-currency assets of the Central Bank of the UAE (CBUAE) declined by 4% or AED 3.1 billion to AED 353.8 billion in July 2020, compared to AED 369.3 billion in the same month of 2019.

 On a monthly basis, the CBUAE's foreign currency reserves rose by 0.8% in July, compared to AED 350.7 billion in June, according to the latest statistics by the central bank.

Meanwhile, banking accounts and deposits at foreign banks retreated to AED 318.11 billion in July from AED 327.08 billion in the year-ago period.

The other foreign assets at the CBUAE jumped by 79% in July 2020 to AED 26.5 billion from AED 14.77 billion in July 2019.

Moreover, foreign securities held to maturity decreased by 67% to AED 9.17 billion in July 2020 from AED 27.45 billion in the same period of 2019.