ABU DHABI - The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED 17.505 billion by the end of April 2023, a year-on-year (YoY) growth of 41 percent.

The apex bank, in its latest figures, showed that gold reserves grew 9.1 percent, equivalent to AED 1.46 billion during the first four months of 2023.

The UAE's gold reserves significantly grew over the past years to AED 12.862 billion by end of 2020 from AED 4.44 billion by end of 2019 and AED1.134 billion in 2018.