ABU DHABI - The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED17.413 billion by the end of March 2023, a YoY growth of 38 percent.

The apex bank in its latest figures showed that gold reserves increased 9.4 percent on a monthly basis from AED15.91 bn in February 2023.

During the Q1-23, the gold reserves grew 8.5 percent from AED16.04 bn in December 2022.

The UAE's gold reserves significantly grew over the past years to AED12.862 bn by end of 2020 from AED4.44 bn by end of 2019 and AED1.134 bn by end of 2018.