Total Reserves at UAE Central Bank Hits AED 283.4 Billion

  • Dubai, United Arab Emirates
  • 11 January 2019

Total reserves at UAE Central Bank increased to AED 283.4 billion by the end of November 2018. That's a growth of 4.3 percent or 11.8 billion dirhams compared to the same period a year before, at 271.6 billion dirhams in November 2017.

According to the latest statistics from UAE Central Bank, reserves have been rising steadily since the beginning of 2018. Despite the volatility shown in some months, total value of the bank reached 267 billion dirhams at the end of the first half of the year before resuming again to a level of 283.4 billion dirhams at the end of the year, especially during the months of October and November.

Certificates of deposit held by the banks at UAE Central Bank accounted for 125.8 billion dirhams at the end of November 2018, representing about 44% of total reserves, and 121.8 billion dirhams or 42.9% of mandatory reserves and about 35.8 billion dirhams or 13.1% under Net Current Accounts.

Source: (Al Khaleej newspaper, edited)