Abu Dhabi – Mubasher: The UAE’s gold reserves increased by 3.4% year-on-year to AED 1.15 billion at the end of May 2018.
Since 2015, the bank’s reserves of gold and foreign currencies surged, following a decision to resume these reserves, a report released by the Central Bank of the UAE (CBUAE) showed, according to Emirates news agency (WAM).
"Despite that, the yellow metal reserve does not constitute a large percentage of the bank's foreign currency reserves, which stood at AED 326.6 billion at the end of last May," the CBUAE revealed.
The UAE’s gold holdings have reached eight tonnes, the world gold council said.
