AED 1.154 billion balance of the Central Bank of gold during May

MEDIA IN, Abu Dhabi, July 5, 2018 (WAM)

The Central Bank of the UAE’s gold bullion rose to AED 1.154 billion at the end of May 2008 with a growth of 3.4% and an increase of AED 38 million compared to AED 1.116 billion in the same month of 2017. According to statistics released by the Central Bank today, its gold holdings have registered steady growth over the past three years after it decided to return to the formation of reserve reserves for foreign exchange reserves, which reached levels of distinct recently. According to the preliminary reading of the Central Bank of the composition of the balance of gold figures show that the highest level was in March of 2018, which amounted to 1.172 billion dirhams compared with 1.152 billion dirhams in December of 2017. In April of this year, the value of the central bank’s gold balance was 1.169 billion dirhams, a very limited decline compared to the previous month. It is noteworthy that the UAE represented by the Central Bank emerged from the lists of the World Gold Council on the reserves of gold in banks in the world, before returning to reappear in the list in April 2015 after the Central Bank decided to re-composition of its gold. According to recent data from the World Gold Council, which monitors gold reserves at central banks in the world, the UAE has 8 tons of gold.