UAE C.bank gold reserves down to AED 8.96bn in September

UAE C.bank gold reserves down to AED 8.96bn in September

UAE – Mubasher: Gold reserves held with the Central Bank of the UAE (CBUAE) dropped to AED 8.961 billion in September 2020, compared with AED 8.987 billion in the previous month.

Year-on-year (YoY), the UAE's reserves of the precious metal rose by 231% in September when compared to the year-ago period, according to data from the central bank.

In April 2015, the UAE central bank decided to resume building gold reserves in addition to other foreign-currency reserves.