Today's Edition
ABU DHABI (WAM)
The gold reserves of the Central Bank of the United Arab Emirates (CBUAE) exceeded Dh23 billion by the end of Q3/24.
This represents a month-on-month increase of 5.3 percent, or Dh1.164 billion, bringing the total gold reserves to Dh23.185 billion compared to Dh22.021 billion at the end of August.
Since the beginning of the year, the gold reserves have grown by more than 27.76 percent, or over Dh5 billion, from Dh18.147 billion at the end of last year, according to the CBUAE's Monthly Statistical Bulletin for September released on Wednesday.
In the meantime, the bulletin indicated that the value of demand deposits grew by more than three percent to exceed Dh1.083 trillion at the end of September, of which Dh781.528 billion were in the local currency.
It added that the banking sector has witnessed a significant surge in deposits, with savings deposits reaching Dh304.534 billion, of which approximately Dh256.6 billion is denominated in the local currency.
Furthermore, time deposits have reached Dh888.473 billion, with around Dh542.6 billion in local currency.
The statistical bulletin revealed a monthly increase in the net international reserves of the UAE banking sector, reaching Dh1.317 trillion at the end of September, compared to Dh1.305 trillion at the end of August.
This represents a year-to-date increase of approximately 15 percent from Dh1.145 trillion at the end of December of the previous year.
The bulletin also revealed a significant increase in the value of transactions processed within the country's banking sector via the UAE Fund Transfer System (UAEFTS), exceeding Dh14.338 trillion in the first nine months of this year.
The statistics also indicated that the value of circulated checks, based on their e-images, exceeded Dh979.77 billion.
Furthermore, the value of cash withdrawals from the CBUAE from the beginning of the year until the end of September reached approximately Dh151.97 billion, while cash deposits with the central bank amounted to around Dh140.83 billion.
