The total foreign currency supply at the UAE Central Bank surged to AED338.34 billion by the end of June, a growth of AED47.6 billion from early 2017, according to statistics recently issued by the bank.

A month-on-month review indicated that the total supply increased by AED15.93 billion in June from AED322.41 billion in May.

The bank attributed the growth to a rise in bank balances and deposits overseas, which were up by AED12 billion to AED227.65 billion in June against AED215.66 billion in May, with held-to-maturity securities increasing in value during the same period from AED101.46 billion to AED104.33 billion, while other foreign assets increased from AED5.29 billion to AED6.36 billion.

In a similar note, the UAE Central Bank's total assets increased by AED38.1 billion since January through June, from AED353.86 billion to AED391.96, with a month-on-month rise valued at AED9.87billion, after having reached to AED382.09 billion in May.

In the meantime, the monetary and banking balance in June got up to AED133.52 billion from AED130.54 in May, with deposits jumping during the same period from AED95.1 billion to AED97.7 billion, held-to-maturity investments to AED153.5 billion, loans and advances to AED3.5 billion and other assets up to AED3.74 billion.

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