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ABU DHABI / WAM
The UAE dirham has continued to appreciate in Q1 2017 for the twelfth consecutive quarter, according to Central Bank of the UAE statistics.
With a few exceptions, the dirham appreciated against most of the UAE’s main trade partners. From the import side, the weighted dirham’s appreciation against its top-nine non-dollarised import partners, which claim 48.5 percent of the UAE total imports, was 0.37% in Q1 of 2017.
The UAE currency has appreciated against all its main import partners, with a simple average bilateral appreciation of 1.2% during the first quarter of 20175 . The highest quarterly appreciation was against the Japanese Yen, where the dirham gained around 3.6%. Japan is contributing around 5.7% in the total imports of the UAE.