Egypt’s gold reserves rise to $3.324 billion in August – c.bank

Egypt’s gold reserves, a major component of foreign cash reserves, rose to around $3.324 billion in August from $3.059 billion in July, the central bank said on Wednesday.

Egypt’s net foreign reserves rose to $44.969 billion at the end of August, compared with $44.916 billion at the end of July.

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