Egypt’s gold reserves record $7.372bln in February – central bank

Egypt’s gold reserves, a major component of foreign cash reserves reached $7.372 billion at the end of February, slightly lower from $7.773 billion in January, the Central Bank of Egypt (CBE) said on Sunday.

The foreign currencies’ value included in the cash reserve rose to $26.962 billion by the end of February, compared to $26.131 billion by the end of January.

The central bank also announced a rise in foreign reserves to $34.352 billion by the end of February, compared with $34.224 billion by the end of January, up $128 million.

Foreign currencies in Egypt’s foreign reserves consist of the U.S. dollar, euro, Australian dollar, Japanese yen, and Chinese yuan.