Foreign Reserves
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.
Egypt’s net foreign reserves increased by approximately $153 million in September.
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.
The data showed that remittances from Egyptian expatriates during May 2021 increased 45.2 percent to reach $2.6 billion, compared to $1.8 billion during May 2020.
Egypt’s net foreign reserves increased by approximately $20 million in July.
The Media Center of the Cabinet released Saturday the figures.
The net foreign currency reserves rose to $40.584 billion by the end of May, 2021, compared with $40.468 billion recorded in May.
The stabilization is backed by the accumulation of foreign exchange reserves and high growth rates in the two years preceding the Corona pandemic, as well as Egypt's positive growth rates despite the global pandemic.
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.
El-Said clarified in a statement that there is a strategic stockpile of goods available.
Egypt’s foreign reserves hiked by about $100 million during the second months of 2021.
Egypt’s foreign reserves hiked by about $94 million, recording $40.1 billion by the end of January 2021.
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.
This rise is the fifth in row for the Egyptian foreign reserves.
The current average of foreign reserves covers about 8 months of Egypt's commodity imports, which is higher than the global average of about three months of commodity imports.
Egypt managed to repay $35 billion in debt despite the economic repercussion of the coronavirus crisis, and provided 5 million jobs over the past five years, said governor of the Central Bank of Egypt (CBE).
Egypt’s foreign reserves rose by about $113 million, recording $38.314 billion by the end of July 2020.
Egypt’s foreign reserves decreased by about $1 billion, recording $36 billion by the end of May 2020, compared to $37.037 billion during April 2020.
Since March, CBE has announced using foreign reserves money to cover the Egyptian market's needs of foreign exchange, the drop in foreign investments and international portfolios.
CBE clarified that the decline came as a result of using the money to cover the Egyptian market's needs of foreign exchange, the drop in foreign investments and international portfolios.
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