Egypt’s net foreign reserves grow to $40.584 billion by June-end: c.bank

Egypt’s net foreign reserves inched up to $40.584 billion at the end of June from $40.468 billion at the end of May, a central bank data showed on Tuesday.

Foreign reserves achieved a significant comeback in December, growing by almost $800 million to their highest level since April 2020.

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