Egypt’s net foreign reserves inch up to $35.249 bln in Jan. – c. bank data

Egypt’s net foreign reserves inched up to $35.249.5 billion at the end of January 2024 from $35.219 billion at the end of December 2023, a central bank data showed on Monday.

Foreign currencies in the country’s foreign reserves comprise of the U.S. dollar, euro, Australian dollar, Japanese yen, as well as the Chinese yuan. The provision of foreign exchange, as well as gold and various international currencies, is dedicated for paying for imports, repaying foreign debts, and coping with any economic crises in exceptional circumstances.