Egypt’s gold reserves rise to $11.85b in Feb – CBE

Egypt’s gold reserves, a key component of its international reserves, increased to $11.851 billion in February, up from $11.416 billion in January, according to the latest data from the Central Bank of Egypt (CBE).

Conversely, the value of foreign currencies within the reserves declined to $35.524 billion in February, down from $35.821 billion in January, marking a monthly decrease of approximately 0.83 per cent.

Despite this dip, Egypt’s total net foreign exchange reserves edged higher, reaching $47.394 billion by the end of February, compared to $47.265 billion at the end of January.

Attribution: Amwal Al Ghad English

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