The UAE dirham has appreciated against the currencies of both top 10 non-dollarised import and non-oil export partners by 0.74 per cent and 0.3 per cent respectively during the last quarter of 2018, according to Central Bank of the UAE.

Year-on-year (Y-o-Y), the dirham appreciated as well against the currencies of the same partners by 3.55 per cent and 6.09 per cent respectively, reported Emirates news agency Wam.

On a quarterly basis, the UAE currency appreciated by 3.55 per cent during Q4 2018 against the top 10 non-dollarised import partners, which claim 52.3 per cent of the UAE total imports.

In the meantime, the UAE currency gained more ground against the currencies of emerging economies, which continued to depreciate in Q4.

The highest appreciation was against the Chinese Yuan by 1.57 per cent during Q4. In more detail, the UAE currency appreciated against the Indian Rupee by 2.73 per cent during the period; 1.12 per cent against the Japanese Yen; 1.96 per cent against Euro; 1.4 per cent against the GB Pound and 1.22 against Swiss Franc. In the meantime, the dirham depreciated 3.23 per cent against Turkish Lira on a quarterly basis after it was up 29.87 per cent during the preceding quarter.

The dirham appreciated as well versus the currencies of other key trade partners, including the Singapore dollar by 0.55 per cent, 0.57 per cent against S. Korean Won, 8.37 per cent against Pakistani Rupee and 2.17 per cent against Japan's Yen.

In the meantime, dirham remained stable against Iraqi Dinar, depreciating only 0.03 per cent on a quarterly basis.