2023-09-14 09:17:02
The UAE Central Bank’s gold balance increased by 49 percent on an annual basis at the end of last July.
Data in the statistical bulletin issued by the bank, on Thursday, showed that its balance of the yellow metal reached 17.2 billion dirhams ($4.7 billion) at the end of last July, an increase equivalent to more than 5.66 billion dirhams ($1.54 billion), compared to regarding 11.6 billion dirhams ($3.16). billion dollars) in July 2022.
The data showed that the Central Bank’s gold balance increased during the first seven months of this year by regarding 7.4 percent to 17.2 billion dirhams, compared to regarding 16 billion dirhams in December of last year 2022, an increase equivalent to 1.18 billion dirhams.
On a monthly basis, the Central Bank’s gold balance increased by regarding 458 million dirhams, or 2.73 percent, compared to regarding 16.8 billion dirhams last June.
It is noteworthy that the Central Bank’s gold balance has witnessed remarkable growth over the past years, rising to 12.9 billion dirhams at the end of 2020, compared to 4 billion dirhams at the end of 2019, and 1.1 billion dirhams at the end of 2018.
Gold is part of the various assets owned by the Central Bank, which includes liquid funds, certificates of deposit, and securities held until maturity.
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