Egypt’s net foreign reserves increases to $34.447 bln in March – c.bank

Egypt’s net foreign reserves rose to $34.447 billion at the end of March from $34.352 billion at the end of February, a central bank data showed on Wednesday.

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