In an indicator that reflects the return of momentum to economic activities

«Central»: 90.7 billion dirhams, the value of dealing with checks during February 2022

«Central»: Total assets denominated in dirhams increased during February by 11 billion dirhams.

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The pace of check dealing increased significantly during the month of February, which reflects the return of momentum to economic activities and the business sector in the country.

Statistics issued by the Central Bank of the Emirates yesterday showed that the value of the checks that were handled during February 2022 alone amounted to 90.7 billion dirhams, for a number of 1.7 million checks, an increase of 10.5 billion dirhams compared to the value recorded during February 2021, which amounted to 80.2 billion dirhams for 1 .6 million checks.

The statistics revealed that the total foreign assets owned by the Central Bank increased during February alone by a value of about 11 billion dirhams, recording at the end of a balance of 475.4 billion dirhams, compared to 464.5 billion dirhams at the end of the previous January, with a monthly growth of 2.4%.

The figures also showed that the total assets of the Central Bank, denominated in dirhams, increased during last February by approximately 11 billion dirhams, while the cumulative balance of this item at the end of the month amounted to 529.6 billion dirhams, compared to 518.5 billion dirhams at the end of the previous January, with a monthly growth of approximately 2%.

Among these assets, cash and bank balances with the Central Bank increased by 31 billion dirhams during February alone, recording at the end of a total balance of 282 billion dirhams, compared to 251 billion dirhams at the end of January 2022.

In turn, the balance of certificates of deposit continued to rise during February 2022, registering 184 billion dirhams, compared to 177 billion dirhams at the end of the previous January, with a monthly increase of seven billion dirhams.

The cash circulated in the market outside banks also increased, during last February, to reach 98.7 billion dirhams, compared to 95.4 billion dirhams at the end of the previous January, with a monthly increase of 3.3 billion dirhams.

The monetary base of the UAE rose last February to reach 486.7 billion dirhams, compared to 481.2 billion dirhams at the end of January 2022, with a monthly increase of 5.5 billion dirhams.

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