Egypt’s gold reserves slightly fall to $4.361 bln in September – c.bank

Egypt’s gold reserves, a major component of foreign cash reserves, reached $4.361 billion at the end of September, slightly lower from $4.52 billion in August, the central bank said on Wednesday.

The country’s foreign reserves rose to $38.425 billion at the end of September from $38.36 billion at the end of August, the bank added.

Foreign currencies in Egypt’s foreign reserves consist of 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.