The value of the UAE Central Bank's gold assets grew by about 3.5 percent on a monthly basis last October to reach 11.676 billion dirhams, compared to 11.286 billion dirhams at the end of last September. However, the value of the Central Bank’s gold assets declined by about 9.2 percent during the first ten months of this year, compared to 12.86 billion dirhams at the end of December 2020.
The data of the statistical bulletin issued by the Central Bank showed an increase in the value of savings deposits by 10 percent, at a rate of 21.34 billion dirhams, during the first ten months of this year, to 236.544 billion dirhams, compared to 215.208 billion dirhams at the end of last year. It also rose by 0.7 percent on a monthly basis in October, compared to 234.843 billion dirhams at the end of September 2021.
The value of demand deposits in the banking sector jumped by about 15 percent during the first ten months of this year to 801.305 billion dirhams, the highest level ever, at the end of last October, compared to 696,884 billion dirhams at the end of December 2020. Time deposits rose again by about 1 percent on a monthly basis last October, to reach 529.321 billion dirhams, compared to 524.234 billion dirhams, but it remained down by 14.2 during the first ten months of this year, compared to 616,591 billion dirhams at the end of last year.
Source (Al Khaleej Newspaper-UAE, Edited)
