12:26 PM
Sunday 09 August 2020
–
Books – Mustafa Eid:
The foreign exchange reserves at the Central Bank of Egypt increased for the second month in a row last July, recording an increase of 113 million dollars, to reach the level of 38.315 billion dollars.
This increase is due to the increase in the value of gold recorded in reserves by $ 429 million, an increase of 10.5% during July, to reach about $ 4.5 billion by the end of last month, which is due to the rise in gold prices in the same month by 10.9%
This increase comes after the reserve lost about $ 9.5 billion in the past months of March, April and May, while facing the repercussions of the spread of the new Corona virus, before it rose again by about $ 2.2 billion last June.
The reserve reached a record high at the end of February at $ 45.510 billion, after a 14-month rally, during which it broke its records since July 2019 and reached its highest record in February 2020.
In the following interactive graph, Masrawy monitors the development of foreign exchange reserves at the Central Bank since the beginning of 2020, according to bank data.
–
