30 Nov 2011
(MENAFN) UAE’s central bank governor, Sultan Nasser Al Suweidi, said that the bank recommenced investing in US Treasuries since the circumstances changed and interest rates were now reasonable, reported Emirates 24/7.
Al Suweidi added that the country would keep its currency, the dirham, pegged to the US currency, with the exchange rate of the dirham linked to the US dollar, adding that the peg to the US currency served the UAE’s economy.
On the other hand, the central bank said in July that it didn’t hold any US Treasury bonds and that most of its foreign reserves were invested in non-US assets.
It is worth noting that in June, UAE’s central bank’s foreign currency assets dropped to USD54.2 billion, however, holdings of foreign securities went up to USD23 billion in the moth, recording the highest level in at least four years.
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more