The Central Bank of the UAE (CBUAE) has scheduled an auction for Monetary Bills (M-Bills) on August 19, 2024. This auction will feature four distinct Treasury bond issues valued at a total of AED19.5 billion ($5.3 billion).
The CBUAE plans to offer up to AED2.5 billion in 28-day M-Bills, up to AED2 billion in 56-day M-Bills, up to AED3 billion in 140-day M-Bills, and up to AED12 billion in 308-day M-Bills.
The issue date for these M-Bills is set for August 21, 2024. The maturity dates are as follows: September 18, 2024 for the 28-day issue, October 16, 2024 for the 56-day issue, January 8, 2025 for the 140-day issue, and June 25, 2025 for the 308-day issue.
The CBUAE has announced a total of 26 M-Bills tenders for the current year.
The CBUAE saw a remarkable increase in its foreign assets during April 2024, reaching AED750.29 billion. This represents a 2.55 percent rise from the previous month’s figure of AED731.62 billion. This upward trend reflects a substantial growth in foreign assets over the past year, with the CBUAE adding over AED176 billion to its holdings between April 2023 and April 2024.
A breakdown of the CBUAE’s foreign assets reveals that bank balances and deposits held with foreign banks reached AED508.78 billion by the end of April 2024, up from AED489.31 billion at the end of March. Foreign securities held by the CBUAE totaled AED183.93 billion at the end of April, while other foreign assets climbed to AED57.58 billion, up from AED56.48 billion in the previous month.
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