The total foreign assets of the UAE Central Bank exceeded $136.1 billion at the end of January for the first time in its history.
The data showed that the Central Bank's foreign assets increased monthly by 1.34 percent, from $134.4 billion last December to $136.2 billion at the end of last January.
The Central Bank's foreign assets increased annually by 7.8 percent, compared to $126.4 billion in January 2022, an increase equivalent to more than $9.8 billion in 12 months.
Central Bank statistics attributed the monthly increase to a 0.18 percent rise in bank balances and deposits with banks abroad, reaching $85.5 billion at the end of last January, compared to $85.4 billion in December 2022.
Foreign securities held to maturity within the Central Bank's foreign assets reached $39.1 billion at the end of January, a 6.8 percent increase monthly, compared to $36.6 billion in December 2022.
Central Bank statistics indicated that other foreign assets reached $11.5 billion at the end of January, a month-on-month decrease of 6.6 percent, compared to $12.3 billion in December 2022.
The Bank revealed that cash deposits saw a 5.6 percent increase to $175.6 billion last January, compared to $166.3 billion in January 2022.
Monetary deposits increased on a monthly basis by 1.53 percent, equivalent to $2.6 billion, compared to about $173 billion in December 2022.
The Bank stated that quasi-monetary deposits rose to $263.4 billion last January, an increase on an annual basis of about 12.9 percent, compared to $233.2 billion in January 2022, an increase equivalent to $30.1 billion.
Quasi-monetary deposits are resident time and saving deposits in Dirhams and resident deposits in foreign currencies, while monetary deposits are current accounts and call accounts at banks, according to the Bank.
According to Bank data, government deposits increased to $110 billion last January, a year-on-year growth of 37.8 percent, compared to $79.8 billion in January 2022, equivalent to $30.1 billion.
