Sharjah24 - WAM: The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED12.749 billion, a growth of 13 percent or AED1.463 bn in September 2022, compared to AED11.286 billion in September 2021.

The apex bank in its latest figures showed that gold reserves increased 13.8 percent, or AED1.549 bn, on a monthly basis from AED11.2 bn in August 2022.

The Bank’s reserves of gold reportedly make up a small percentage of its total balance of foreign currencies. All its gold reserves were sold before 2015, but it began to re-constitute its gold reserves during the same year, as well as its basket of foreign currencies, most notably US dollars and Euros.