Egypt’s central bank announces increase in its gold reserves

The Central Bank of Egypt announced that its gold reserves increased by $248 million to $7.326 billion at the end of December, up from $7.078 billion at the end of November 2022.

And the Central Bank announced in November 2022 that the value of gold held in foreign exchange reserves increased to $7.078 billion from $6.612 billion at the end of October last year. The year is 2021.

And the Central Bank announced that the balance of foreign exchange reserves increased to $34.002 billion at the end of December 2022, compared to $33.532 billion at the end of November 2022, an increase of $468 million.

The balance of foreign exchange reserves increased by the end of September 2022 to a record $33.19 billion, previously it was determined at the end of the month at the end of August to a record $33.14 billion. And Central Bank Governor Hassan Abdullah said earlier that the Central Bank seeks to double foreign exchange reserves within 4 years.