CBE: Gold reserves grow by 17%, reaching $ 9.883 Bn by July -2024end

According to the latest data from the Central Bank of Egypt, released recently on its official website, revealed an increase of 17.10% in the gold balance included in foreign exchange reserves reaching $9.883 bn at the end of last July 2024, compared to $ 8.440 bn at the end of December 2023, with an increase of $1.443 bn.

The value of foreign currencies included in the foreign exchange reserves increased to $36.306 bn by the end of July 2024, compared to $26.745 bn by the end of December 2023, representing 78.10% of the total foreign exchange reserves.

Gold constituted about 20.15% of the total foreign exchange reserves by the end of April 2024.

The balance of Special Drawing Rights (SDRs) surged to $302 mn by the end of July 2024, compared to $36 mn by the end of December 2023. with an increase of $266mn, thus accounting for 0.65% of the total foreign exchange reserves.