UAE Central Bank gold reserves reach $5.6bn in May 2024
Tue Aug 06 2024
The Central Bank of the UAE (CBUAE) reported that its gold reserves reached AED20.619 billion by the end of May 2024. This marks a 19.7 percent year-on-year increase from AED17.219 billion in May 2023.
The CBUAE’s Monthly Statistical Bulletin – Banking & Monetary Statistics for May 2024, released today, showed a 1.3 percent month-on-month growth in gold reserves from AED20.36 billion in April 2024.
The UAE’s gold reserves have seen substantial growth in recent years. The central bank’s holdings stood at AED12.862 billion by the end of 2020, up from AED4.44 billion at the end of 2019. In 2018, the reserves were valued at AED1.134 billion.
Source: https://www.arabianbusiness.com/