The Central Bank of the UAE (CBUAE) increased its gold reserves by 19.3 per cent in Q1 2025, adding Dhs4.444bn to reach a total of Dhs27.425bn at the end of March, up from Dhs22.981bn at the close of 2024, according to data released in the bank’s latest statistical bulletin.
The move comes amid heightened volatility in global markets and continued diversification of the UAE’s reserve assets.
In addition to the rise in gold holdings, the CBUAE reported robust growth in various categories of banking deposits.
Rise in gold, demand deposits in Q1
Demand deposits grew to over Dhs1.147tn at the end of March, up from Dhs1.109tn in December 2024. This included Dhs856.062 billion held in UAE dirhams and Dhs291.116bn in foreign currencies.
Savings deposits also saw an uptick, reaching Dhs338.788bn at the end of Q1, compared to Dhs317.48bn in December. Of that total, AED268.97bn were in local currency and AED51.817 billion in foreign currencies.
Time deposits continued to surge, climbing toDhs991.757bn, with Dhs614.854bn in dirhams and Dhs376.9bn in foreign currencies, reflecting strong liquidity and confidence in the banking sector.
The UAE Funds Transfer System (UAEFTS) facilitated total transfers worth Dhs5.449tn during the quarter, comprising Dhs3.331tn in interbank transfers and Dhs2.118tn in customer transactions.
The central bank also reported that 5.615 million cheques worth Dhs351.359bn were cleared via image-based processing in Q1.
In March alone, approximately 1.83 million cheques amounting to Dhs116.712 billion were processed.
Cash activity remained healthy, with Dhs63.887bn in withdrawals and Dhs47.124bn in deposits recorded during the first three months of the year.
The latest figures point to a continued strengthening of the UAE’s monetary and financial systems, driven by high liquidity, strong domestic savings, and sustained interbank and customer activity.
