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UAE currency on th rise to top ten list

The UAE Dirham has appreciated against the currencies of both top 10 non-dollarised import and non-oil export partners by 3.08 percent and 3.97 percent respectively during the first nine months of 2018, according to Central Bank of the UAE statistics.

Y-o-Y, the Dirham appreciated as well against the currencies the same partners by 3.8 percent and 7.11 percent respectively.

On a quarterly basis, the UAE currency appreciated by 3.8 percent during Q3 2018 against the top 10 non-dollarised import partners, which claim 52.3 percent of the UAE total imports The highest appreciation was against the Chinese Yuan by 6.7 percent. In more detail, the UAE currency appreciated against the Indian Rupee by 4.7 percent; 2.17 percent against the Japanese Yen; 2.44 against Euro; and 4.29 percent 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 percent and by 6.08 percent against Pakistani rupee

Source: WAM

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