2023-10-05 09:34:08
Abu Dhabi – Mubasher: The UAE Central Bank revealed an increase in the average nominal and real exchange rate of the UAE dirham during the second quarter of this year.
The Central Bank explained in its recently issued quarterly report that the effective nominal exchange rate, which takes into account the multiple exchange rates of the UAE’s most important trading partners, rose on an annual basis by 2.8% in the second quarter of this year.
The Central Bank stated in its report that the average effective real exchange rate of the UAE dirham, which takes into account inflation differences with the country’s trading partners, increased on an annual basis by 6.7% in the second quarter of the year.
In another context, the Central Bank explained that the banking system in the UAE continued to enjoy good capitalization levels well above the set limit for regulatory requirements, and that the combined capital adequacy ratio increased by 1.3 percentage points compared to the same period of the previous year and reached 18.2% in the quarter. The second of the year 2023.
The deposits of the banking system in the country continued to grow at a strong pace, which contributed to further improvements in liquidity and financing positions in the second quarter of this year. As a result, the banking system recorded improvements across key liquidity and financing ratios.
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