2023-06-04 19:36:35
The Central Bank of Egypt will announce in the coming hours the volume of foreign exchange reserves for the month of May, amid expectations of continued growth in foreign exchange reserves with the Central Bank of Egypt.
The Central Bank of Egypt revealed that Egypt’s foreign exchange reserves increased to $34.551 billion at the end of April 2023, compared to $34.447 billion at the end of the previous March.
Egypt’s foreign reserves consist of a basket of major international currencies, including the US dollar, the single European currency, the euro, the pound sterling, the Japanese yen and the Chinese yuan, a percentage of which Egypt’s holdings are distributed on the basis of the exchange rates of those currencies and the extent of their stability in international markets, and it changes according to a plan developed by Central Bank of Egypt officials.
The Central Bank announced an increase in the value of gold listed in foreign exchange reserves at the end of last April to $8.031 billion, compared to $7.950 billion at the end of March 2023.
The central bank said that the value of foreign currencies included in the cash reserve recorded $26.173 billion at the end of April, compared to $26.477 billion at the end of last March.
The balance of special drawing rights rose to 349 million dollars at the end of last April, compared to 22 million dollars at the end of last March.
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