Egypt’s gold reserves rise to $4.268 billion in July – c.bank

Egypt’s gold reserves, a major component of foreign cash reserves, rose to around $4.268 billion in July from $4.111 billion in June, the central bank data announced on Wednesday.

The country’s net foreign reserves edged up to $40.609 billion in July from $40.584 billion in June, a central bank data added.

Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen, and Chinese yuan. The provision of foreign exchange, including gold and various international currencies, is designed to pay for imports, repay foreign debts, and cope with any economic crises in exceptional circumstances.