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Egypt’s gold reserves rise to $7.773 billion in January: CBE

Egypt’s reserves of gold rose, reaching a value of US$7.773 billion in January, from $7.326 billion in December 2022, the latest data of the Central Bank of Egypt showed.

The latest monthly report issued by the Central Bank of Egypt for February 2023 showed the development of the total and net international gold reserves of the Central Bank, the latest of which was in January 2023, where net international reserves reached $34.224 billion in January 2023, from $34.003 billion in December 2022.

According to the report, the balance of Special Drawing Rights (SDRs) units rose to $324 million, while foreign currencies recorded in January $26.131 billion down from $26.669 billion in December 2022.

The number of months of commodity imports covered by net reserves rose to 5.4 months in January 2023 from 5.3 months in November 2022, according to the report.

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