Egypt’s net foreign reserves rise to $34.970 bln in September – c.bank

Egypt’s net foreign reserves rose to $34.970 billion at the end of September from $34.928 billion at the end of August, a central bank data showed on Wednesday.

Foreign currencies in the country’s foreign reserves include the 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.