Latest news with #demand deposits
Arabian Business
15 hours ago
- Business
- Arabian Business
UAE gold reserve surges 25.9% in first five months of 2025 to $7.88bn
UAE's gold reserves increased by nearly 25.9 per cent during the first five months of the year. The Central Bank of the United Arab Emirates (CBUAE) said the value of gold held by the country increased to AED 28.933 billion (US$7.88 billion) at the end of May, up from AED 22.981 billion (US$6.26 billion) at the end of December 2024. According to the Central Bank's statistical bulletin issued on Thursday, the CBUAE's gold holdings rose by 0.49 per cent month-on-month in May. Demand deposits also grew, exceeding AED 1.166 trillion (US$320 billion) by the end of May, compared to AED 1.109 trillion (US$300 billion) at the end of December 2024. Of this total deposit, AED 892.577 billion (US$243.04 billion) were in local currency and AED 274.329 billion (US$74.7 billion) in foreign currencies. Savings deposits rose to AED 359.57 billion (US$97.91 billion) at the end of May, up from AED 317.48 billion (US$86.45 billion) at the end of last year. This included AED 305.508 billion (US$83.19 billion) in local currency and AED 54.062 billion (US$14.72 billion) in foreign currencies. Time deposits exceeded AED 1 trillion to AED 1.013 trillion (US$275.9 billion) for the first time by the end of May, including AED 614.854 billion (US$167.42 billion) in local currency and the rest in foreign currencies.
Zawya
a day ago
- Business
- Zawya
CBUAE gold reserves rise 26% in January to May 2025
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 AED28.933 billion at the end of May, up from AED22.981 billion at the end of December 2024. According to the Central Bank's statistical bulletin issued today, the CBUAE's gold holdings rose by 0.49% month-on-month in May, to AED 28.791 billion at the end of April. Statistics showed that demand deposits also grew, exceeding AED1.166 trillion by the end of May, compared to AED1.109 trillion at the end of December 2024. Of this total, AED892.577 billion were in local currency and AED274.329 billion in foreign currencies. Savings deposits rose to AED359.57 billion at the end of May, up from AED317.48 billion at the end of December 2024. This included AED305.508 billion in local currency and AED54.062 billion in foreign currencies. Time deposits exceeded AED1billion for the firs time by the end of May, including AED614.854 billion in local currency and AED398.348 billion in foreign currencies.
