The gold reserves of the Central Bank of the UAE’ (CBUAE) rose by approximately 19.3%, or $1.21 billion, during the first quarter of this year, reaching $7.47 billion at the end of March, compared with $6.26 billion at the end of last year.
According to a statistical bulletin issued by the CBUAE, the value of demand deposits increased to exceed $310 billion at the end of March, compared with approximately $300 billion at the end of December 2024.
The bulletin also said that the demand deposits at the end of March amounted to approximately $233.10 billion in local currency and $79.27 billion in foreign currencies. Likewise, the value of savings deposits reached $92.25 billion at the end of March, compared with $86.45 billion at the end of the previous December.
Savings deposits in local currency amounted to approximately $73.26 billion, and in foreign currencies to approximately $14.11 billion. As for time deposits, they amounted to $275.05 billion at the end of last March – $167.42 billion in local currency and $102.63 billion in foreign currencies, the CBUAE bulletin said.
Banking Operations
Meanwhile, banking operations statistics showed that the value of transfers executed in the country’s banking sector, via the UAE Fund Transfer System (UAEFTS), amounted to $1.48 trillion, with approximately $910 billion for transfers executed by banks, and approximately $580 billion for the transfers executed by clients.
Regarding circulating checks, banking operations statistics for March showed that the value of checks circulating using their images exceeded $95.67 billion, representing approximately 5.615 million checks, during the first three months of this year.
The value of cheques traded during March alone reached approximately $31.78 billion, representing approximately 1.83 million cheques.
The data also showed that the value of cash withdrawals from the Central Bank during the first quarter of this year reached $17.40 billion, while the value of cash deposits during the same period amounted to approximately $12.83 billion.
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