Egypt’s net foreign reserves rise to $34.352 bln in Feb: c.bank

Egypt’s net foreign reserves inched up to $34.352 billion at the end of February from $34.224 billion at the end of January, a central bank data showed on Sunday.

Foreign currencies in the country’s foreign reserves include 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.