How much gold does UAE Central Bank have?

By Eudore R. Chand

ABU DHABI 13 March 2018: The value of the UAE Central Bank’s reserves of gold bars rose to around Dh1.2 billion at the end of January, an increase of Dh48 million, or 4.1 per cent, compared to Dh1.152 billion in December 2017.

Statistics issued by the bank showed that its reserves of gold grew exponentially since 2015, which is the year when it decided to resume its reserves of gold and foreign currencies, most notably the US dollar and other major currencies, said Wam.

The value of the bank’s reserves of foreign currencies was around Dh326 billion at the end of January while its gold reserves at the same month were the highest for over three years.

The value of its reserves in August 2017 was around Dh1.153 billion, before declining to Dh1.139 billion in September and Dh1.129 billion in October, but rising again in the following months.