Saturday 26 July 2014

UAE forwards at 11-month low, dirham to stay near peg

UAE one-year currency forwards fell to an 11-month low on Monday helped by  improved liquidity in the banking system, indicating the Opec member's dirham would keep near its US dollar peg. One-year dirham forwards edged down to -5


UAE cbank sets up new liquidity facility

The UAE’s central bank set up new additional liquidity facility for commercial banks, it said on Sunday. 'Central Bank has issued a notice to UAE banks and branches of foreign banks operating in the UAE, making available to them a spec


UAE interbank rates ease after cbank takes over

United Arab Emirates interbank rates fell on Thursday, the first day they were set after the central bank took control of the fixing process in the hope it would lower the rates it has long said are too high. In September, the central bank


UAE to launch Eibor mechanism next month

The United Arab Emirates central bank will introduce an official interbank offered benchmark rate mechanism in the first half of September, a treasury official said on Wednesday. 'To finalise the project it will probably take until the


UAE plans benchmark for dirham rate

The UAE central bank is planning to set up an interbank offered rate that would create an official benchmark for the dirham's offered rate, and ensuring a better view of "prevailing market conditions." "The objective behind this initiative


NBAD prices convertible bond issue

National Bank of Abu Dhabi (NBAD) said it priced its Dh2 billion ($544.7 million) of convertible bonds at 25 basis points below Emirates Interbank Offered Rate (EIBOR) and would convert at 30 per cent above its last trade. The 10-year floa

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