ABU DHABI - The Central Bank of the UAE's gold reserve surged 38.8 percent to AED 5.615 billion in February 2020 from AED4.04 bn in December 2019.
Statistics issued by the apex bank showed its reserves of gold grew exponentially since 2015, which is the year when it decided to resume its reserves of gold and foreign currencies, most notably the US dollar and other major currencies. According to the official figures, the value of the gold bullions has been improving over the past two years, hitting AED1.134 bn and AED1.25 bn by the end of 2018 and H1 of 2019 respectively. It jumped to AED2.7 bn in September 2019, before surging to AED4.04 bn by the end of same year.
© Copyright Emirates News Agency (WAM) 2020.