Egypt’s net foreign reserves slightly higher at end-November – c.bank

Egypt’s net foreign reserves slightly rose to $39.221 billion at the end of November from $39.220 billion in October, the central bank said on Sunday.

Foreign reserves had fallen since March from a high of more than $45 billion in the awake of economic fallout from the coronavirus outbreak.

Foreign currencies in Egypt’s foreign reserves consist of 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.