ABU DHABI — Net international reserves in the United Arab Emirates grew 1.1 percent during August, 2020, to AED353.15 billion from AED349.25 billion in July, according to the statistics shown by the Central Bank of UAE.

The balance of foreign securities, and other foreign assets increased to AED12.66 billion and AED32.43 billion, respectively during the same month.

When a country has a considerable amount of international reserves, foreign investors can more reliably look forward to investing in the country’s market as they are backed with a good amount of foreign reserves.

Therefore, a good amount of foreign exchange reserve increases the confidence in the monetary and exchange rate policy of the government. — WAM