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UAE dirham appreciates against top currencies

ABU DHABI, December 27, 2018

The UAE dirham has appreciated against the currencies of both top 10 non-dollarised import and non-oil export partners by 3.08 per cent and 3.97 per cent respectively during the first nine months of 2018, a media report said.

Year-on-year, the dirham appreciated as well against the currencies the same partners by 3.8 per cent and 7.11 per cent respectively, reported state-run Wam, citing statistics released by the Central Bank of the UAE.

On a quarterly basis, the UAE currency appreciated by 3.8 per cent during Q3 2018 against the top 10 non-dollarised import partners, which claim 52.3 per cent of the UAE total imports. The highest appreciation was against the Chinese Yuan by 6.7 per cent.

In more detail, the UAE currency appreciated against the Indian rupee by 4.7 per cent; 2.17 per cent against the Japanese yen; 2.44 against euro; and 4.29 per cent against the GB pound. In the meantime, the dirham depreciated 0.16 against Swiss franc.

Dirham appreciated as well versus the currencies of other key trade partners, including the Singapore dollar by 2.49 per cent and by 6.08 per cent against Pakistani rupee.




Tags: rupee | Dollar | UAE dirham |

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