412 billion dirhams “Central” assets in foreign currencies, with an annual growth of 16%

412 billion dirhams “Central” assets in foreign currencies, with an annual growth of 16%
412 billion dirhams “Central” assets in foreign currencies, with an annual growth of 16%

The Central Bank of the Emirates raised its assets in foreign currencies to 412.06 billion dirhams at the end of last August, an increase on an annual basis by about 16%, or the equivalent of 56.8 billion dirhams, compared to about 355.2 billion dirhams in August 2020.

The latest Central Bank statistics issued yesterday showed that foreign assets rose on a monthly basis by about 2%, or the equivalent of 7.9 billion dirhams, compared to about 404.16 billion dirhams at the end of last July, while they increased by 6.2%, or the equivalent of 24 billion dirhams, during the first eight months. current compared to 388.05 billion dirhams at the end of last year.

The statistics indicated that foreign currency assets included cash, bank balances and deposits with banks abroad at a value of 248.5 billion dirhams, and the value of foreign securities held to maturity amounted to 122.38 billion dirhams, and other foreign assets amounted to 41.18 billion dirhams.

Excess precautions

Central statistics indicated that the surplus reserves of banks and other financial institutions rose to 80.7 billion dirhams at the end of last August, the same level achieved in August 2020, while they increased on a monthly basis by 68.5%, or the equivalent of 32.8 billion dirhams, compared to 47.9 billion dirhams last July.

The statistics indicated that the surplus reserves are equivalent to 18.1% of the monetary base of 444.7 billion dirhams at the end of last August, which also includes the issued cash, which is the cash circulating in and outside banks, and amounted to 106.8 billion dirhams at the end of last August, while the reserve account reached 104.8 billion. dirhams, and certificates of deposit with banks and cash bills amounted to about 154.4 billion dirhams.

Central budget

The budget of the Central Bank recorded about 482.26 billion dirhams at the end of last August, an increase on an annual basis by 6.2%, or the equivalent of 28.1 billion dirhams, compared to 454.15 billion dirhams in August 2020, while it increased on a monthly basis by 1.4% compared to 475.61 billion dirhams last July.

According to the Central Bank’s data, the bank’s assets were distributed by 251.81 billion dirhams in cash and bank balances last August, in addition to investments saved to maturity of about 168.28 billion dirhams, and 25.74 billion dirhams for deposits, in addition to 17.74 billion dirhams for loans and advances, and 18.69 billion dirhams. for other assets.

Remittances

In another context, Central Bank data revealed that the total value of remittances to individuals and banks through the UAE system for remittances reached about 6.2 trillion dirhams in the first eight months of this year, and the value of transfers between banks reached about 3.75 trillion dirhams, or 60.5% of the total Remittances, while the value of individual remittances in the same period amounted to about 2.45 billion dirhams, or 39.5% of the total remittances.

Check clearing

According to the Central Bank’s statistics, the value of check clearing using its forms amounted to 714.17 billion dirhams in the first eight months of this year, 82.2 billion in January, 80.2 billion in February, 95.3 billion in March, 89.8 billion in April and 89.3 billion in May. And 99 billion in June, 86.4 billion in July and 91.6 billion in August, while the number of checks submitted in the same period amounted to about 14.07 million checks, including 1.77 million in January, 1.678 million in February, 1.92 million in March and 1.67 million. In April, 1.8 million in May, 1.8 million in June, 1.65 million in July and 1.75 million in August.

The value of cash withdrawals from the Central Bank amounted to about 122.3 billion dirhams in the first eight months of this year, and included 122.29 billion withdrawals in paper currencies and 28.18 million in coins, while the value of cash deposits in the “Central” in the same period amounted to 126.19 billion dirhams. It included 126.17 billion dirhams in paper currency deposits and 19.8 million dirhams in coins.

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