Egypt’s Finance Ministry highlights stronger fiscal stability, reserves and growth after Moody’s upgrades Egypt to B3.
The allocation of these holdings is determined based on exchange rate movements and the stability of each currency in global markets, in line with a strategy set by the Central Bank of Egypt.
Egypt's foreign reserves consist of a basket of major international currencies, including the U.S. dollar, the euro, the British pound, the Japanese yen, and the Chinese yuan.
According to data released by the CBE, the value of gold reserves climbed by nearly $2.6 billion to $20.73 billion at the end of January, compared with $18.17 billion a month earlier.
Gold holdings within the reserves increased by about $1.755 billion to $15.843 billion at the end of September, up from $14.088 billion in August.
