Egypt’s net foreign reserves rise to $35.173 bln in November – CBE

By Nada Ali On Dec 7, 2023

Egypt’s net foreign reserves increased by $72 million in November to reach $35.173 billion, up from $35.102 billion at the end of last month, a central bank data showed on Thursday.

The country also witnessed a slight uptick in international reserves, climbing to $35.1 billion in October from $34.97 billion in September, according to Central Bank of Egypt (CBE) data showed last month.

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 dedicated for paying for imports, repaying foreign debts, and coping with any economic crises in exceptional circumstances.

Australian dollar Central Bank of Egypt Central Bank of Egypt (CBE)Chinese yuan Egypt’s net foreign reserves euro foreign currencies international currencies