The UAE Central Bank's foreign currency assets increased 1.5 percent to Dh322.4 billion ($87.75 billion) during the month of May from Dh317.44 billion in April, according to statistics released Tuesday by the bank.

The surge is attributable to the rise in UAE banking balances and deposits overseas from Dh147.85 billion in December to Dh215.66 billion by the end of May, reported WAM, the Emirates official news agency.

In the meantime, foreign securities held at the bank until their maturity date during the same period continued to depreciate from Dh149.34 billion to Dh101.46, with other foreign assets following suit from Dh13.72 billion to Dh5.29 billion by the end of May.

The bank's total assets in May amounted to Dh382.1 from Dh364.45 in December 2016.

As per the CB statistics, deposits increased to Dh95.1 billion during the month of May, while investment portfolios held until their maturity date fell to Dh150.62 billion, loans and debts down to Dh3.2 billion and other assets to Dh2.61 billion.