CBUAE’s gold reserves rise to Dhs24.571b

The gold reserves of the Central Bank of the United Arab Emirates (CBUAE) surged by 7 per cent, or Dhs1.59 billion, in January, reaching Dhs24.571 billion by the end of the month, up from Dhs22.981 billion at the end of December 2024.

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According to the CBUAE’s Monthly Statistical Bulletin for January issued on Friday, demand deposits grew to over Dhs1.116 trillion at the end of January, compared to around Dhs1.109 trillion at the end of December 2024.

At the end of January, demand deposits were distributed as follows: Dhs834.9 billion in local currency and approximately Dhs981.5 billion in foreign currencies.