Egypt’s gold reserves climb 4.1% in July – CBE

By Nada Ali On Aug 7, 2024

Egypt’s gold reserves, a major component of international reserves, surged 4.1 per cent to $9.883 billion at the end of July up from $9.485 billion at the end of June, central bank data showed on Wednesday.

The foreign currencies’ value included in the cash reserve dropped 1.5 per cent to $36.306 billion by the end of July, compared to $36.889 billion by the end of the previous month.

The central bank’s report also announced a growth in Egypt’s net foreign reserves to $46.489 billion at the end of July from $46.384 billion in June.

Attribution: The CBE report

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