The Central Bank of the United Arab Emirates has seen an increase in its gold reserves by over 25.899% during the first five months of this year, reaching 28.933 billion dirhams by the end of May, compared to approximately 22.981 billion dirhams at the end of December 2024.
In May, the bank’s gold reserves experienced a month-over-month rise of 0.49%, up from 28.791 billion dirhams at the end of April.
According to the statistical bulletin released by the central bank today, the value of demand deposits exceeded 1.166 trillion dirhams by the end of May, compared to about 1.109 trillion dirhams at the end of December 2024.
As of the end of May, demand deposits were distributed as follows: approximately 892.577 billion dirhams in local currency and around 274.329 billion dirhams in foreign currencies.
The total value of savings deposits reached 359.57 billion dirhams by the end of May, compared to about 317.48 billion dirhams at the end of December 2024.
Savings deposits included approximately 305.508 billion dirhams in local currency and about 54.062 billion dirhams in foreign currencies.
Furthermore, time deposits surpassed the one trillion dirham mark for the first time by the end of May, totaling 614.854 billion dirhams in local currency and 398.348 billion dirhams in foreign currencies.