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· Egypt’s net foreign reserves increased by approximately US$116 million in June, the Central Bank of Egypt (CBE) announced
· The net foreign currency reserves rose to US$40.584 billion by the end of May, 2021, compared with US$40.468 billion recorded in May
Egypt’s net foreign reserves increased by approximately US$116 million in June, the Central Bank of Egypt (CBE) announced. The net foreign currency reserves rose to US$40.584 billion by the end of May, 2021, compared with US$40.468 billion recorded in May.
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan. The main function of the foreign exchange reserve, including its gold and various international currencies, is to provide commodities, repay the installments on interest rates of external debt, and to cope with economic crises.
