Abu Dhabi (WAM) The value of the new foreign liquidity that was injected into deposit On demand at the banking system in the UAE, the equivalent of 15.82 billion dirhams during the first four months of this year, according to statistics issued by the Central Bank of the Emirates.
The significant growth in demand deposits in foreign currencies indicates the extent of confidence enjoyed by the banking system among foreign dealers, who constitute a good percentage of the total bank customers in the country.
It is clear from the statistics of the Central Bank that the continuous increase in demand deposits in foreign currencies contributed to raising their total cumulative balance to approximately 199.66 billion dirhams at the end of April 2021, compared to 183.74 billion dirhams in December of the year 2020.
Demand deposits in foreign currencies constitute about 13.1% of the total value of deposits of all categories by the end of April of this year.
The statistics show that the total balance of demand deposits in foreign currencies with national banks reached at the end of last April the equivalent of 148.35 billion dirhams, which constitutes more than 74% of their total balance with the banking system… while the rest of the percentage was recorded in favor of foreign banks operating in The state.
It is noteworthy that the movement of the general index for this type of deposits fluctuated during the last quarter of the year 2020, before improving again at the beginning of the year 2021, and its total balance achieved great leaps before settling at the level recorded last April.