8.96 billion dirhams, the gold balance in the UAE central bank at the end of September

The value of the balance of gold in the UAE Central Bank amounted to 8.961 billion dirhams by the end of September 2020, an increase of 121% of 4.917 billion dirhams compared to the value of the balance in December 2019. \

According to the Emirates News Agency, the Central Bank's possession of gold witnessed almost stability on the monthly level, with the value of the balance in August of this year amounting to 8.987 billion dirhams.

The Central Bank has worked since the beginning of this year to increase its possession of the yellow metal, as part of its keenness to diversify its foreign reserves, which mostly include a basket of international currencies. >

The Central Possession Index witnessed significant growth during the first quarter of this year, as the balance reached 5.951 billion dirhams, an increase of nearly 47% compared to the balance at the end of the previous year .

During the second quarter of this year, the value of the gold balance rose to 6.58 billion dirhams, according to the Central Bank statistics. In July, it jumped to 8.462 billion dirhams and into About 8,987 billion in August.