Egypt’s central bank announces increase in its gold reserves

The Central Bank of Egypt announced that its gold reserves increased by $248 million to $7.326 billion at the end of December, up from $7.078 billion at the end of November 2022.

And the Central Bank announced in November 2022 that the value of gold held in foreign exchange reserves increased to $7.078 billion from $6.612 billion at the end of October last year. The year is 2021.

And the Central Bank announced that the balance of foreign exchange reserves increased to $34.002 billion at the end of December 2022, compared to $33.532 billion at the end of November 2022, an increase of $468 million.

The balance of foreign exchange reserves increased by the end of September 2022 to a record $33.19 billion, previously it was determined at the end of the month at the end of August to a record $33.14 billion. And Central Bank Governor Hassan Abdullah said earlier that the Central Bank seeks to double foreign exchange reserves within 4 years.

The Central Bank Statistical Bulletin says that total lending balances in the banking sector increased to a record LE 3.617 trillion at the end of September 2022, compared to LE 3.568 trillion at the end of August 2022.

While loans provided by banks were divided into loans to the government of £1.346 trillion and non-government loans of £2.271 trillion, and as for loans directed to the government, they were divided into £881.693 billion in local currency, and 464. £9 billion in foreign currency by the end of September 2022.

Source: Cairo 24