Egypt’s Central Bank Gains $7.7 Billion in Gold and Foreign Exchange Reserves

The latest data from the Egyptian Central Bank showed that Egypt’s foreign exchange reserves increased to $7.773 billion in January last year, compared to $7.326 billion in December last year.

The latest monthly report released by the Central Bank of Egypt for February 2023 included data on the development of total and net international reserves of the Central Bank, the latest of which was in January 2023, since in January 2023 net international reserves reached US$34.224 billion starting at $34.003 billion in December 2022.

The report indicated that the balance of units of special drawing rights was $324 million, compared with 13, and in foreign currency in January it was recorded $26.131 billion from $26.669 billion in December last year.

According to the report, the number of months of imports of goods covered by net reserves increased to 5.4 months in January 2023 from 5.3 months in November 2022.

Source: “Al-Watan”

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