Abu Dhabi – Mubasher: UAE government deposits in local banks increased by AED 13.3 billion ($3.62 billion) or 8.3% in November, according to data released by the Central Bank of the UAE late Wednesday.
Deposits rose to AED 172.9 billion ($47.08 billion) last month, up from AED 159.6 billion ($43.46 billion) in October.
On the other hands, the UAE's central bank reduced its deposits in foreign banks by the end of November by 7.6% or AED 9.5 billion to AED 114.4 billion from AED 123.9 billion the month before.
Issued currency reached AED 78 billion in November, up 2% month-on-month from AED 76.5 billion, while cash at banks increased 6.3% during the period to AED 15.2 billion from AED 14.3 billion in October, according to data published on the bank's official website.
