UAE Gold Reserves Climb 7% in January as Bank Deposits and Reserves Strengthen
The Central Bank of the UAE (CBUAE) reported a robust start to 2025, with gold reserves rising by 7% in January to reach AED24.571 billion—up AED1.59 billion from AED22.981 billion in December 2024.
According to the CBUAE's Monthly Statistical Bulletin for January, released today, the country's financial indicators showed steady growth across key deposit categories and net international reserves.
Demand deposits crossed the AED1 trillion mark, increasing to over AED1.116 trillion at the end of January from AED1.109 trillion the previous month. Of this, AED834.9 billion was held in local currency and AED281.5 billion in foreign currencies, reflecting continued confidence in the banking system.
Savings deposits also saw a modest rise, reaching AED322.281 billion compared to AED317.48 billion in December. Local currency accounted for approximately AED270.79 billion, while foreign currency savings totaled AED51.48 billion.
Fixed-term deposits stood at AED926.22 billion at the end of January, with AED552.47 billion in dirhams and AED373.74 billion in foreign currencies, highlighting a strong mix of domestic and international holdings.
The report also noted a rise in the UAE banking sector's net international reserves, which climbed to AED1.466 trillion in January—an increase of AED20 billion from AED1.446 trillion in December.
These figures underscore the resilience and stability of the UAE's financial sector amid global economic uncertainties, reinforcing investor confidence and strengthening the country's monetary position.
News Source: Emirates News Agency
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