CBUAE’s net foreign reserves hit AED 353.15bn in August

by FaceDXB

UAE – Mubasher: The net foreign reserves of the Central Bank of the UAE (CBUAE) increased by 1.1% month-on-month (MoM) to AED 353.15 billion in August 2020, compared to AED 349.25 billion in July.

The CBUAE’s foreign securities rose to AED 12.66 billion in August, compared to AED 9.17 billion in July, according to the latest statistics by the CBUAE.

The CBUAE’s other foreign assets jumped to AED 32.43 billion in August.

It is noteworthy to mention that in August 2020, the UAE banks have increased their investments in debt securities by 2.3% month-on-month (MoM) or AED 6.3 billion to record around AED 276.8 billion.

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