The net international reserves of the UAE banking sector increased by 8 per cent, equivalent to AED 91 billion, in the first five months of the year, reaching AED 1.236 trillion by the end of May 2024.
This is an increase from AED 1.145 trillion at the end of last year, according to the Central Bank of the UAE's (CBUAE) Monthly Statistical Bulletin - Banking & Monetary Statistics for May 2024, released on Monday.
The CBUAE's share of the net international reserves amounted to AED 763.8 billion by the end of May, a 13 per cent growth from AED 673.42 billion at the end of 2023.
Additionally, the net international reserves of banks operating in the UAE rose by 1 per cent, reaching AED 472.68 billion by the end of May, compared to AED 472.2 billion at the close of December 2023.
News Source: Emirates News Agency
