The Central Bank of Egypt (CBE) announced an increase in net foreign currency reserves by about $500 million, to reach about $34 billion by the end of December 2022, compared to about $33.5 billion during the previous November.
The foreign currencies in Egypt’s foreign reserves consist of a basket of the main international currencies, which are the US dollar, the European currency “the euro”, the pound sterling, the Japanese yen, and the Chinese yuan. According to a plan developed by the Central Bank of Egypt officials.
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