Abu Dhabi – Mubasher: The UAE Central Bank increased its gold reserves by 23.6% to reach AED 1.162 billion in the first eight months of 2016, compared to AED 940 million by the end of 2015, according to the bank’s official statistics.
The central bank cut its gold reserves by AED 33 million in August 2016, compared to AED 1.195 billion recorded by the end of July.
The central bank decided to build up gold reserves in April 2015 for the first time since the second half of 2007.
By the end of last August, gold reserves accounted for 0.33% of the bank’s total reserves which reached AED 352.812 billion, according to Mubasher’s statistics.
