Central Bank of UAE gold reserves rise 26% in Jan-May 2025
ABU DHABI (WAM) The Central Bank of the United Arab Emirates (CBUAE) increased its gold reserves by 25.899% during the first five months of the year to Dh28.933 billion at the end of May, up from Dh22.981 billion at the end of December 2024.According to the Central Bank's statistical bulletin issued on Wednesday, the CBUAE's gold holdings rose by 0.49% month-on-month in May, to Dh 28.791 billion at the end of April.Statistics showed that demand deposits also grew, exceeding Dh1.166 trillion by the end of May, compared to Dh1.109 trillion at the end of December 2024.Of this total, Dh892.577 billion were in local currency and Dh274.329 billion in foreign currencies.Savings deposits rose to Dh359.57 billion at the end of May, up from Dh317.48 billion at the end of December 2024.This included Dh305.508 billion in local currency and Dh54.062 billion in foreign currencies.
Time deposits exceeded Dh1 billion for the first time by the end of May, including Dh614.854 billion in local currency and Dh398.348 billion in foreign currencies.
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