The UAE Central Bank announced that its gold balance increased by 38% year-on-year by the end of last March.
The data of the statistical bulletin issued by the UAE Central, on Friday, showed that its balance of the yellow metal reached 17.413 billion dirhams (about 4.74 billion dollars) at the end of last March, an increase equivalent to more than 4.77 billion dirhams (1.3 billion dollars), compared to 12.638 billion dirhams (about 12.638 billion dirhams). $3.44 billion) in March 2022.
The data showed that the central balance of gold increased on a monthly basis by about 9.4 percent, or the equivalent of 1.5 billion dirhams, compared to about 15.91 billion dirhams last February.
According to the data, the UAE central gold balance increased by 8.5%, or the equivalent of 1.37 billion dirhams, during the first quarter of this year, compared to 16.04 billion dirhams in December 2022.
It is noteworthy that the UAE Central Bank’s balance of gold witnessed a remarkable growth during the past years, rising to 12.862 billion dirhams at the end of 2020, compared to 4.044 billion dirhams at the end of 2019, and 1.134 billion dirhams at the end of 2018.
Gold is among the various assets owned by the Central Bank of the Emirates, and includes liquid funds, certificates of deposit, and securities held until maturity.
2023-06-09 19:29:56
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