- The Central Bank of Egypt revealed an increase in gold balances listed in the foreign exchange reserve to record $9.384 billion at the end of last April, compared to $9.003 billion at the end of March 2024, an increase of $381 million.
- The Central Bank added that the value of foreign currencies included in the cash reserve recorded $31.375 billion at the end of April, compared to $31.313 billion at the end of March 2024, while the balance of special drawing rights recorded about $300 million, compared to $47 million.
- Egypt's foreign exchange reserves rose to $41.057 billion at the end of April, compared to $40.361 billion at the end of March 2024, an increase of $696 million.
- Egypt's foreign reserve consists of a basket of major international currencies, including the US dollar, the single European currency euro, the British pound, the Japanese yen, and the Chinese yuan. It is a percentage of which Egypt's holdings are distributed on the basis of the exchange rates of those currencies and the extent of their stability in international markets, and it changes according to a plan drawn up by Officials of the Central Bank of Egypt.
- The main function of the foreign exchange reserve at the Central Bank, with its components of gold and various international currencies, is to provide basic goods, pay installments and interests on foreign debts, and confront economic crises, in exceptional circumstances, with resources from sectors generating hard currency being affected.
