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UAE foreign assets fall to $73bn

Abu Dhabi, January 28, 2014

The United Arab Emirates central bank's foreign currency assets fell to Dh269 billion ($73.2 billion) in October from 284.3 billion in the previous month, which was their highest level since 2007, official data showed on Tuesday.

The fall, which was the largest since at least 2009, was due to a drop in deposits to a 10-month low of Dh79.3 billion, despite a rise of foreign securities holdings to a record high of 149 billion, central bank data showed.

The assets include Dubai government bonds worth Dh36.72 billion.-Reuters




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