Finance

Central Bank of UAE gold reserves exceed $8.17bln for first time

By the end of August, the value of the reserves reached $8.26bln, compared with $6.26bln at the end of December 2024.

The Central Bank of the United Arab Emirates (CBUAE) has seen its gold reserves rise by around 32 percent during the first eight months of 2025, surpassing AED30 billion for the first time. 

By the end of August, the value of the reserves reached AED30.329 billion, compared with AED22.981 billion at the end of December 2024.

On a monthly basis, the central bank’s gold holdings grew by more than 4.5 percent in August, up from AED28.997 billion at the end of July.

According to the CBUAE’s statistical bulletin issued today, the value of demand deposits rose to over AED1.188 trillion by the end of August, compared with AED1.109 trillion at the end of December 2024.

As of the end of August, demand deposits included AED892.273 billion in local currency and AED296.137 billion in foreign currencies.

Savings deposits totalled AED376.479 billion, up from AED317.48 billion at the end of December 2024, comprising AED321.761 billion in local currency and AED54.718 billion in foreign currencies.

Time deposits also exceeded AED1.05 trillion by the end of August, with AED664.669 billion held in local currency and AED386.19 billion in foreign currencies.

© ZAWYA

GLOBAL BUSINESS AND FINANCE MAGAZINE

Recent Posts

The Danes, the Dutch, the Swedes and the feasibility of walking away from pay-as-you-go pensions

Prefunded pensions in Denmark, the Netherlands and Sweden pair income security with fiscal sustainability, but…

2 hours ago

Worker-managed firms can curb inequality and protect free markets

Rising income inequality in Western high-income countries threatens democratic governance and social cohesion, and AI…

2 hours ago

Not all geopolitical shocks are inflationary

Geopolitical tensions are often seen as a source of inflation. But this is only part…

2 hours ago

Cultural norms matter for macroeconomic development

Interest in the role of cultural norms, institutions, and development has resurfaced in recent years…

2 hours ago

The adjustment of the Danish labour market to AI has begun

Policymakers are asking whether generative AI is reshaping labour demand, and the literature has found…

2 hours ago

Women entrepreneurs could benefit from better targeting, without changing the program content

Every year, governments and development organizations spend billions on business upgrading programs — training, mentorship,…

2 hours ago