The Central Bank of Egypt (CBE) announced on Tuesday evening that its net international reserves increased to $34.003bn in December 2022, compared to $33.532bn in November 2022, a growth of about $468m. It is the largest increase in Egypt’s international reserves since August. It is also the fourth consecutive increase in reserves, bringing the total rise to $860m from September to December. According to the Central Bank’s website, the value of gold listed in its international reserves increased to $7.326bn, compared to $7.078bn in November 2022, an increase of $248m. Egypt’s foreign reserves consist of a basket of major international currencies, including the US dollar, the euro, the pound sterling, the Japanese yen, and the Chinese yuan.

Source: Daily News Egypt January 05, 2023 04:36 UTC