Egypt’s net foreign reserves at $40.934 billion in December

Egypt’s net foreign reserves rose to $40.934 billion at the end of December from $40.909 billion at the end of November, a central bank provisional data showed on Wednesday.

Foreign reserves have been growing since June 2020, after falling to around $36 billion from more than $45.5 billion driven by the repercussions of the COVID-19 pandemic.

Foreign currencies in Egypt’s foreign reserves are as follows; U.S. dollar, euro, Australian dollar, Japanese yen, and Chinese yuan. The provision of foreign exchange, including gold and various international currencies, is aimed at paying for imports, repaying foreign debts, and coping with any economic crises in exceptional circumstances.