The assets of the Central Bank of the UAE increased during the first ten months of this year by 2.25% to AED 427.13 billion, the rise was driven by an 18.38 percent growth in deposits to AED 126.48 billion and an increase in cash and bank accounts by 22.01 percent to AED 245.11 billion.
The investment portfolio witnessed a decline of 53.6% during the period to reach AED 48.37 billion by the end of October. CBK's foreign assets declined 0.9% to AED 370.73 billion in October, but remained at 2.25% higher than at the end of last year. Foreign assets accounted for 86.8% of the CBE's total assets by the end of October 2019.
The balance of current bank accounts and foreign deposits rose 19.1% to AED 350.12 billion, while the Central Bank continued to issue more cash during the period to meet the needs and needs of the national economy.
Source (Al-Khaleej newspaper, Edited)
