The gold component of foreign exchange reserves decreased, for the second month in a row, to record about $7.73 billion in June, compared to $7.49 billion in May. The value of the decrease amounted to about $293 million during the month of June, compared to April 2023.
Foreign exchange reserves are defined as a basket of major international currencies that includes the US dollar, the euro, the British pound, the Japanese yen, and the Chinese yuan.
The gold balances included in the cash reserve decreased from $8.031 billion in May, to $7.94 billion in June 2023.
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Net international reserves, according to data issued by the Central Bank, amounted to 34.806 billion US dollars at the end of June 2023.
The net increase in foreign reserves amounted to $146 million during the month of June, compared to the previous month of May of this year.
Egypt’s cash reserves consist of cash cover in foreign currencies, in addition to reserves of gold deposited in the vaults of the Central Bank of Egypt.
2023-07-08 15:52:54
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