The Central Bank revealed that the UAE’s net foreign exchange reserves grew by 15.96% (an increase of 66.74 billion dirhams) during the first 11 months of 2019 to reach 484.838 billion dirhams.
According to the "Central Bank", the net reserves of international currencies increased by 9.5 percent (an increase of 34.145 billion dirhams) to reach 392.587 billion dirhams at the end of last November. The net international currencies of banks operating in the UAE also increased by 54.6 percent (an increase of 32.594 billion dirhams) reaching to 92.251 billion dirhams at the end of November.
The UAE Central Bank has boosted its gold assets, and according to the latest banking data, the balance of the Central Bank’s gold assets increased since the beginning of the year until last November by 219.8 percent (an increase of 2.493 billion dirhams) to reach 3,627 billion dirhams.
Gold prices witnessed a great increase and better performance in the global markets, as the spot price of the yellow metal reached more than $1525 an ounce.
Source (Al-Khaleej Newspaper, Edited)
