Gold reserves fall 1% in Egypt last December

Egypt’s gold reserves declined by $30 million or 1.1 percent month-on-month in December 2017, according to data by the Central Bank of Egypt (CBE) on Wednesday.

The value of the precious metal stood at $2.67 billion at the end of December, compared to $2.7 billion in November.

Meanwhile, the North African country’s special drawing right (SDR) of the International Monetary fund (IMF) surged to $749 million.

Furthermore, foreign-currency reserves reached $33.57 billion in November 2017, compared to $33.24 billion in the same period a year earlier, the CBE highlighted.

Source: Mubasher