The Central Bank of the UAE (CBUAE) will publish a new index for actual overnight funding transactions denominated in UAE Dirham from 7 Dec. 2021, as part of the new Dirham Monetary Framework implementation plan. Named DONIA (Dirham Overnight Index Average), the index is the effective overnight reference rate for...
UAE interbank rates up replicating US Fed’s move
The move comes after the US Federal Reserve increased the interest on excess reserves by 5 bps In the UAE, the one-year deposit facility booked a significant rise to 0.748 bps on Jun 17 Interest rates that are based on the Emirates Inter-Bank Offered Rate or EIBOR rose across the...
