The Central Bank of the UAE (CBUAE) reported that its gold reserves exceeded AED23.185 billion by the end of Q3 2024, reflecting a 5.3% increase or AED1.164 billion from August’s AED22.021 billion. Year-to-date, gold reserves have surged by 27.76%, adding over AED5 billion from AED18.147 billion at the close of 2023, as per the CBUAE’s Monthly Statistical Bulletin for September.
The bulletin also highlighted growth in demand deposits, which rose by more than 3% to exceed AED1.083 trillion, with AED781.528 billion denominated in local currency. Savings deposits reached AED304.534 billion, with nearly AED256.6 billion in local currency, while time deposits hit AED888.473 billion, including AED542.6 billion in local currency.
Net international reserves for the UAE banking sector grew monthly to AED1.317 trillion by September’s end, marking a 15% increase since December 2023’s AED1.145 trillion.
Additionally, the value of transactions processed via the UAE Fund Transfer System (UAEFTS) exceeded AED14.338 trillion during the first nine months of 2024. Circulated checks processed through e-images reached AED979.77 billion.
Cash withdrawals from the CBUAE totaled approximately AED151.97 billion during this period, with cash deposits amounting to AED140.83 billion.
