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Source: مصراوي
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Egypt's international reserves reached a record high at the end of September, with net reserves increasing by approximately $133 million to about $57.35 billion. This marks the 49th consecutive month of growth. The main driver of this increase was an increase in foreign currency balances, which surged by about $1.73 billion. Meanwhile, the gold reserves experienced a decline of $1.6 billion to reach $17.46 billion, despite an increase in the amount of gold by approximately 2,926 ounces. The change in gold value was influenced by market price fluctuations rather than a decrease in the physical quantities held. The significant rise in reserves since the "Ras Al Hikma" deal in February 2024 is attributed to an increase of roughly $22 billion.
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