Egypt’s gold reserves dip in Nov

Egypt’s gold reserves, a key component of its international reserves, fell 3.38 per cent in November to $10.777 billion from $11.154 billion in October, according to the latest data from the Central Bank of Egypt (CBE) on Sunday.

Meanwhile, the value of foreign currencies within the reserves rose modestly, reaching $36.140 billion in November, compared to $35.497 billion in October—a monthly increase of 1.81 per cent.

Despite the dip in gold reserves, Egypt’s overall net foreign exchange reserves edged up to $46.952 billion by the end of November, up from $46.942 billion in October, marking a marginal growth of 0.02 per cent.

Attribution: CBE