Egypt’s gold reserves hit $8.031 billion in April – c.bank

Egypt’s gold reserves, a major component of foreign cash reserves, rose to $8.031 billion at the end of April from $7.950 billion at the end of March, a central bank data showed on Wednesday.

The country’s net foreign reserves went higher to $34.551 billion at the end of April from $34.447 billion at the end of March.

Foreign currencies in Egypt’s foreign reserves are the U.S. dollar, euro, Australian dollar, Japanese yen, and Chinese yuan. The provision of foreign exchange, including gold and various international currencies, is set to pay for imports, repay foreign debts, and cope with any economic crises in exceptional circumstances.