UAE - Mubasher: The gold bullion balance of the Central Bank of the UAE (CBUAE) reached more than AED 6.58 billion by the end of June 2020, recording its highest level since 2015, according to the latest statistics by the CBUAE.
The CBUAE's gold bullion balance grew by 428% year-on-year (YoY) or AED 5.15 billion by the end of June 2020, compared to AED 1.434 billion in the same period of 2019.
During the first half (H1) of 2020, the central bank's gold bullion balance jumped by 63% or AED 2.54 billion to around AED 4.04 billion.
On a monthly basis, the CBUAE's gold bullion balance increased by 2.3% or AED 148 million in June 2020 from AED 6.432 billion in May 2020.
It is noteworthy to mention that in April 2015, the CBUAE decided to resume forming gold reserves for the first time in eight years.
