The CBUAE traditionally moves lockstep with the US Fed amid the UAE having pegged its currency to the US dollar at a rate of Dhs3.67 to $1
US gold futures settled 1.6 per cent higher to $2,345.4
Bullion has hit record highs in each session for over a week over data from the US economy
Gold logged its best month since July 2020, at a 9 per cent increase, and a second straight quarterly rise
Driven by technology, various platforms are offering an interface that is secure and transparent, along with financing options from multiple lenders
Following the theme of its conference, EFG Hermes highlights opportunities available in frontier emerging markets
Inflation has now been running below the Fed’s target on a seven-month basis while US economic growth and the job market have remained largely intact
The notification from CBUAE comes after the US Federal Reserve announced that it is maintaining its key policy rate unchanged
GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf countries’ currencies are pegged to the dollar
The US Federal Reserve raised its benchmark interest rates by 25 points to the highest level in 22 years