Foreign Exchange Cash Reserves Increased for the Twelfth Month in a Row – Central Bank of Egypt
The Central Bank of Egypt announced that in August last year, foreign exchange cash reserves increased for the twelfth month in a row and reached approximately $34.928 billion.
Details of the Increase
The bank said this is up from $34.878 billion last July, up about $50 million.
The cash reserve increased by 5%, by about $1.737 billion, to reach $34.878 billion in August last year, compared to about $33.141 billion in August 2022.
Composition of Foreign Currencies
Foreign currencies in Egypt’s foreign exchange reserves consist of a basket of major international currencies, which include the US dollar, the European single currency “Euro”, the pound sterling, the Japanese yen, and the Chinese yuan. Representatives of the Central Bank of Egypt.