Latest news with #AED1.59
Hi Dubai
14-04-2025
- Business
- Hi Dubai
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
Zawya
11-04-2025
- Business
- Zawya
CBUAE's gold reserves up 7% to $6.7bln by end of January
The gold reserves of the Central Bank of the United Arab Emirates (CBUAE) surged by 7 percent, or AED1.59 billion, in January, reaching AED24.571 billion by the end of the month, up from AED22.981 billion at the end of December 2024. According to the CBUAE's Monthly Statistical Bulletin for January issued today, demand deposits grew to over AED1.116 trillion at the end of January, compared to around AED1.109 trillion at the end of December 2024. At the end of January, demand deposits were distributed as follows: AED834.9 billion in local currency and approximately AED281.5 billion in foreign currencies. Savings deposits reached AED322.281 billion at the end of January, compared to around AED317.48 billion at the end of December 2024. Savings deposits in local currency amounted to approximately AED 270.79 billion, and in foreign currencies, around AED 51.48 billion. Fixed-term deposits reached AED926.22 billion at the end of January, with AED552.47 billion dominated in local currency and AED373.74 billion in foreign currencies. The bulletin showed a monthly increase in the net international reserves of the UAE banking sector, reaching AED1.466 trillion at the end of January, compared to AED1.446 trillion at the end of December 2024.
