Indian rupee drops against UAE dirham as oil prices firm up

The Indian rupee declined by 10 paise to 82.26 against the US dollar (22.41 versus the UAE dirham) in opening trade on Wednesday due to firm crude oil prices and a stronger greenback. Early gains in Indian stock markets also restricted the rupee’s losses against the dollar. At the Indian interbank foreign exchange market, the […]

Indian rupee declines against UAE dirham, tracks domestic equities

    The Indian rupee depreciated four paise to 82.83 against the US dollar (22.57 versus the UAE dirham) in early trade on Wednesday, weighed down by a muted trend in Indian equities. However, fresh foreign fund inflows and a weak American currency against major rivals overseas capped the losses in the rupee, forex traders […]

UAE Central Bank issues new banknote for National Day

The Central Bank of the UAE (CBUAE) has launched a new banknote of Dh1,000 denomination to mark the 51st UAE National Day. The note is made of polymer and uses new designs and advanced security features. The front depicts former president and founder of the UAE, Sheikh Zayed bin Sultan Al Nahyan. The image is […]

UAE to hold second auction of federal T-Bonds on June 20

The United Arab Emirates’ finance ministry said a second auction of federal treasury bonds would be held on Monday. The auction size will be 1.5 billion dirhams ($408.43 million) distributed over two tranches: a two-year tranche valued at 750 million dirhams, and a three-year tranche valued at 750 million dirhams, the ministry said on Saturday. […]

S.Korea, UAE agree to extend currency swap agreement for five years

South Korea’s central bank said on Wednesday it has agreed with the Central Bank of the United Arab Emirates (CBUAE) to extend a currency swap agreement for five years. The renewed 20 billion UAE dirham ($5.5 billion) currency swap deal between the Bank of Korea and CBUAE, first signed in 2013, is effective from April […]