Foreign Exchange

UAB provides a wide-range of Foreign Exchange & Treasury services to its institutional and commercial clients. Our Treasury department is well equipped & integrated with the International network & provides its customers with very competitive prices, financial services / solutions and advises on Foreign exchange & Interest Rate exposure. Our Treasury enables to customize financial products in accordance to the client's specific needs & market opportunities.

FX Spot

  • Prices quoted in more then 18 currencies (real time market basis).
  • Commercial rates determined within the scope of the daily fixing (08: am, UAE time).
  • Underlying / Corporate customer's orders settled on the basis of market rates.

FX Forwards

  • Prices quoted in all major currencies on marketable amount.

FX Swaps

  • Prices quoted in all major currencies on marketable amount.

FX Options

  • Prices quoted in all major currencies on marketable amount.

Risk Management

Foreign Exchange Risk Management

The significance of currency risk to any particular client is determined by the potential degree of exchange rate movements and the size of the exposure (FX denominated receivables & payables) for the client, which needs to hedge accordingly. UAB Treasury provides solutions to all clients for their foreign exchange exposure at competitive rates & charges through following comprehensive product packages in line with the international standards.

  • FX - Spot sale & purchase
  • FX – Forward sale & purchase
  • FX – Derivatives - Options (vanilla & exotic)

Interest Rate Risk Management

Our Corporate Treasury Sales desk in the Treasury provides solutions for interest rate exposure on client's loans & deposits in accordance to the specific requirements of the client & best opportunity available in the market.

Following products are available for interest rate risk management.-
Interest rate swap -IRS / Cap / Floor / Collar

FOREX Commentary


Currency in USD in AED Resistance Support
EUR= 1.2907 4.7407 1.2920 1.2820
JPY= 94.04 0.0391 94.60 94.00
GBP= 1.5221 5.5907 1.5240 1.5145
CHF= 0.9465 3.8806 0.9510 0.9450
AUD= 1.0478 3.8486 1.0485 1.0400
GOLD= 1601.26 - 1610 1590
AED 3 mths EBOR 1.1388
US-3mth-LIBOR 0.2831
EUR 3mth-LIBOR 0.1343
GBP 3mth-LIBOR 0.5069
DFM 1901
ADX 2999


Today's Key Economic Indicators Expected Previous UAE TIME
GB CBI Distributs 11.0 8.0 3:00PM
US ICSC chain wws N/A 1.400 3:45PM
US Durable goodss 3.800 -4.900 4:30PM
US Redbook mms N/A 0.700 4:55PM
US Cons conf'ces 68.000 69.600 6:00PM
US New homess 0.422mln 0.437mln 6:00PM





Forex Commentary

The euro fell against the U.S. dollar and the Japanese yen on Monday as enthusiasm brought on by Cyprus\'s last-ditch deal with its international lenders swiftly segued into broad fears about the region\'s banking sector.

Euro losses accelerated sharply after Dutch Finance Minister Jeroen Dijsselbloem, who heads the Eurogroup, told Reuters and the Financial Times that the rescue program agreed for Cyprus represents a new template for resolving euro zone banking problems and that other countries may have to restructure their banking sectors.

The euro initially rose after Cyprus agreed to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout.

Without a deal, Cyprus\'s banking system would have collapsed and the country could have become the first to exit the euro zone.

Worries about an economic slowdown in the euro zone, political uncertainty in Italy, and prospects of the ECB easing monetary policy in coming months to support growth were also expected to weigh on the euro.


Disclaimer: Our market commentary expresses the personal views of the dealers on currency market and is provided in good faith. Please note that though the information given is believed to be reliable, UAB can't guarantee its accuracy.Fx rates are for information only and subject to change.


Capital Market

What to watch today in the GCC

  • Deutsche Bank Overtaking HSBC in Saudi Debt Market: Arab Credit
  • Millionaires Underserved Stunts Industry Growth: Islamic Finance
  • Aussie Dollar Bonds Lure as Garanti Turns to Asia: Turkey Credit
  • Dar Al Arkan Said to Narrow Profit-Rate Guidance on Dollar Sukuk
  • BlackRock Names Andrew MacKenzie iShares Head in Mideast, Africa
  • Drake & Scull Wins 1.73 Billion Riyals Contract in Saudi Arabia
  • Emirates NBD Plans to Lend 2 Billion Dirhams to SMEs This Year
  • Platinum Buying Quickens as Gold Allure Diminishes: Commodities
  • Commodity Supercycle Is 'Truly Over,' Deutsche Bank's Baig Says
  • WTI Crude Trades Near Seven-Week High as Stockpiles Seen Falling
  • Egypt Is Revising Its Economic Program, IMF's Masood Ahmed Says
  • Arabtec Says Working With Ministry, Police on Workers Strike

Top Economics

  • Resurgent Japan Under Abe Impeded by Slow Business Spending
  • CEO Confidence Boosts Hiring for Executive Recruiters: EcoPulse
  • Brazil Immigration Roadblocks Slow Projects as Costs Rise: Jobs
  • China Trade Surplus Seen by BofA at One-Tenth Customs Figure
  • RBA Cut Rate to Boost Business; Households Start to Respond
  • South Korea Bracing for Bigger Yen Effect, Finance Official Says
  • Obama Says Myanmar's Democratic Progress Fuels Economic Growth
  • Thailand Can Ease Monetary Policy If Economy Slows, Prasarn Says
  • U.S. Treasury Takes Extra Steps to Stay Under Federal Debt Limit
  • U.K. Watchdog Hits Back at Bonus Cap as EU Readies Expansion
  • Hollande Bonds Without AAA Shine Brighter Than Gold: Euro Credit
  • Dead Hogs in River No Obstacle as China Pork Prices to Climb
  • EU Parliament Panel Seeks Depositor Preference in Bank-Loss Law
  • Millionaires Underserved Stunts Industry Growth: Islamic Finance
  • Indonesia's Basri Sees Fuel Subsidies, Infrastructure as Key
  • Lew Warns Low Rates Encourage Risky Behavior by U.S. Investors
  • Scottish Nationalists Say Economy Stifled by U.K. Budget Control
  • Rabobank Ends Samurai Drought as BOJ Lowers Yields: Japan Credit
  • Aussie Dollar Bonds Lure as Garanti Turns to Asia: Turkey Credit
  • U.S. 10-Year Yield at Almost 2-Month High Before Bernanke Speaks
  • Hollande Bonds Without AAA Shine Brighter Than Gold: Euro Credit
  • CFTC Said Preparing ISDAfix Probe Talks in Weeks: Credit Markets

Fixed Income Market Trend

  • Heavy pipeline of new issues today: Dar Al Arkan (probably 5 years - sukuk) coming as well as ENBD (perpetuel Tier 1) - respectively indicatively yielding 6% and low 6%
  • Yesterday's flows were driven by retail accounts mainly buying DUGB long end, but European and US accounts have been generally better sellers of risk.
  • Syndicate Bank (rated Baa3 by Moody's and BBB- by S&P) has mandated Citigroup, Deutsche Bank, HSBC, J.P. Morgan and Standard Chartered Bank to organize a series of fixed income investor update meetings in Asia and Europe, starting 2 May, 2013.
Rates Last Px Px Chg
3M US LIBOR 0.2753 0.2185
3M EU LIBOR 0.2000 0.0000
3M GP LIBOR 0.5056 0.0000
3M AED EBOR 0.9200 -0.6748
3M SAR SAIBOR 0.9613 0.0000
*Source Bloomberg

US Treasuries Last Px % Chg
UST 2yr 99.9063 0.00
UST 3yr 99.2891 -0.02
UST 5yr 99.8359 -0.07
UST 10yr 96.4844 -0.14
UST 30yr 92.0000 -0.34
*Source Bloomberg

Commodities Value % Chg
Gold 1,394.82 0.51
Silver 22.40 0.58
*Source Bloomberg

Equities Value % Chg
Dow Jones 15,115.57 -1.36
S&P 500 1,630.74 -1.43
FTSE100 6,583.09 -1.11
ADX 3,589.87 0.76
DFM 2,676.10 1.14
*Source Bloomberg

CDS 5Y Bid Offer
Abu Dhabi 66 71
Dubai 205 220
Bahrain 210 230
Saudi Arabia 66 73
Qatar 68 72

Dual Currency Opportunity is an enhanced yield deposit where clients can earn significant high interest rate on their funding by taking on clearly defined FX (currency) risk.
USD Deposit/ Alternate CCY EUR
Strike Rate p.a.
1M 1.2850 6.00%
2M 1.2860 5.00%
3M 1.2855 4.00%

EUR Deposit/ Alternate CCY USD
Strike Rate p.a.
1M 1.3060 6.00%
2M 1.3050 5.00%
3M 1.3060 4.00%

USD Deposit/ Alternate CCY GBP
Strike Rate p.a.
1M 1.5050 6.00%
2M 1.5060 5.00%
3M 1.5055 4.00%

GBP Deposit/ Alternate CCY USD
Strike Rate p.a.
1M 1.5240 6.00%
2M 1.5230 5.00%
3M 1.5250 4.00%


For high net worth clients UAB Treasury offers the following high returns investment products:


For further details you can contact our Treasury sales team at Head Office – Sharjah.
Tel : +97165733909 or +97165075622 – 627
Fax : +97165720847
Email : Click here to email