The UAE Central Bank announces an increase in the exchange rate of the UAE dirham
Today, Thursday, October 5, 2023, the Central Bank of the Emirates issued a new statement in which it announced the recent increase in the exchange rate of the UAE dirham against other currencies during the second quarter of the current year.
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The United Arab Emirates Central Bank has just announced that they would be raising the exchange rate for the UAE dirham.
The Central Bank of the Emirates published a new statement today, Thursday, October 5, 2023, in which it reported the recent increase in the exchange rate of the UAE dirham against other currencies during the second quarter of the current year. The statement was issued today, which is the fifth day of the month of October.
Statement of the Central Bank of the Emirates regarding the real exchange rate of the dirham
The Central Bank of the United Arab Emirates has issued a statement addressing the real exchange rate of the dirham, The Central Bank of the Emirates disclosed an increase in the average nominal and real exchange rate of the UAE dirham during the second quarter of this year. Additionally, the Central Bank of the Emirates stated 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% during the second quarter of this year. These figures were revealed during the second quarter of this year.
Increase in the exchange rate of the UAE dirham
Increase in the value of one dollar in terms of the United Arab Emirates dirham, In another context, the Central Bank of the UAE 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. In addition, the Central Bank stated 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 quarter of 2023, and 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 centers in the second quarter of this year, and as a result, the banking system recorded improvements across the main liquidity and financing ratios. In addition, the deposits of the banking system in the country continued to grow at a strong pace.
