The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Abu Dhabi / WAM
Net international reserves in the UAE grew 1.1 percent during August this year to AED353.15 billion from AED349.25 billion in July, according to the statistics shown by the central bank of UAE.
The balance of foreign securities, and other foreign assets increased to AED12.66 billion and AED32.43 billion, respectively during the same month.
When a country has a considerable amount of international reserves, foreign investors can more reliably look forward to investing in the country’s market as they are backed with a good amount of foreign reserves. Therefore, a good amount of foreign exchange reserve increases the confidence in the monetary and exchange rate policy of the government.