Post by : Bianca Qureshi
The Central Bank of the United Arab Emirates (CBUAE) has shared some positive updates about the country's money situation. According to its January Monthly Statistical Bulletin, the UAE’s gold reserves increased by 7 percent in the first month of 2025.
By the end of January, the total gold held by the Central Bank was worth AED 24.571 billion. This is a jump of AED 1.59 billion from December 2024, when the gold reserves stood at AED 22.981 billion.
The bulletin also showed that demand deposits – which are funds people and companies keep in their bank accounts and can take out anytime – went up slightly. These deposits grew to over AED 1.116 trillion at the end of January, compared to AED 1.109 trillion at the end of December.
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Out of these demand deposits, AED 834.9 billion were in the UAE’s own currency (dirhams), and around AED 281.5 billion were held in foreign currencies.
Savings deposits also increased. By the end of January, savings deposits reached AED 322.281 billion. In December 2024, they were around AED 317.48 billion. Most of the savings – about AED 270.79 billion – were in dirhams, while AED 51.48 billion were saved in other currencies.
Fixed-term deposits, which are amounts that people and businesses lock in the bank for a certain period, also saw growth. These deposits totaled AED 926.22 billion at the end of January. Out of this, AED 552.47 billion were in local currency, and AED 373.74 billion were in foreign currencies.
Lastly, the report highlighted an increase in the net international reserves of the UAE banking sector. These reserves rose to AED 1.466 trillion at the end of January 2025, compared to AED 1.446 trillion in December 2024.
This overall rise in gold reserves, deposits, and reserves shows that the UAE’s financial position is becoming stronger.
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