05 Aug 2021

The CBE (Central Bank of Egypt) announced that Egypt’s net foreign reserves have risen marginally in July 2021 to reach USD40.61bn versus USD40.58 in June 2021. The slight rise was due to an increase in the value of the gold component of the reserves. Foreign reserves have been rising since June 2020, after the initial shock phase at the onset of the Covid pandemic had passed.

(Source: CBE (English) (Arabic), Reuters (English), Arab Finance (English), Amwal al-Ghad (English), Zawya (English), al-Ahram (English), Egypt Today (English), al-Maal, Mubasher, al-Masry al-Youm, Sada el-Balad, al-Arabiya, al-Sharq al-Awsat)