Egypt’s net foreign reserves rise to $33.532 billion in November

Egypt’s net foreign reserves rose to $33.523 billion at the end of November from $33.411 billion at the end of October, a central bank data showed on Tuesday.

Foreign reserves have been decreasing since March following the outbreak of the Russian war in Ukraine, after being just above $40 billion since November 2020. However, in October they grew to $33.411 billion from $33.197 billion at the end of September.

Foreign currencies in the country’s foreign reserves include 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.