CBE’s gold holdings increase by 6% in October

By Nada Ali On Nov 23, 2023

Egypt's central bank remittances rates Remittances — Egypt's central bank (CBE photo)

The Central Bank of Egypt (CBE) gold holdings rose by six percent to 249.64 billion Egyptian pounds in October from 235.64 billion pounds last month, according to the monthly balance sheet released on Wednesday.

Egypt’s gold reserves increased to 125.92 tons in the third quarter of 2023, from 125.79 tons in the second quarter of the year, according to a report by the World Gold Council (WGC).

WGC also added that gold reserves in Egypt averaged 79.94 tons from 2000 until 2023, reaching an all-time high of 125.92 tons in the third quarter of 2023 and a record low of 75.58 tons in the second quarter of 2016.