By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
    CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
    September 30, 2023
    CBE Governor discusses cooperation with China Development Bank in Beijing
    CBE Governor discusses cooperation with China Development Bank in Beijing
    September 30, 2023
    eSIM technology to be tested by mobile operators in Egypt soon
    eSIM technology to be tested by mobile operators in Egypt soon
    September 30, 2023
    GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
    GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
    September 30, 2023
    Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson
    Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson
    September 30, 2023
  • Politics
    PoliticsShow More
    Israeli army kills Palestinian in West Bank
    Israeli army kills Palestinian in West Bank
    October 1, 2023
    Aswan Forum Secretariat ‘CCCPA’ briefs UN Country Team on upcoming edition
    Aswan Forum Secretariat ‘CCCPA’ briefs UN Country Team on upcoming edition
    September 30, 2023
    Egypt marks 20 years of United Nations Convention against Transnational Organized Crime
    Egypt marks 20 years of United Nations Convention against Transnational Organized Crime
    September 30, 2023
    Al-Sisi urges Egyptians to vote for change in upcoming elections
    Al-Sisi urges Egyptians to vote for change in upcoming elections
    September 30, 2023
    UN to send mission to Nagorno-Karabakh: Spokesperson
    UN to send mission to Nagorno-Karabakh: Spokesperson
    September 30, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt’s net international reserves inch up to $37.123bn in April
Share
Notification
Latest News
Israeli army kills Palestinian in West Bank
Israeli army kills Palestinian in West Bank
Politics Region
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
Business
CBE Governor discusses cooperation with China Development Bank in Beijing
CBE Governor discusses cooperation with China Development Bank in Beijing
Business
eSIM technology to be tested by mobile operators in Egypt soon
eSIM technology to be tested by mobile operators in Egypt soon
Business
GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
GAFI plans to set up financial service center in New Capital with Emirati-South African alliance
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt’s net international reserves inch up to $37.123bn in April
Business

Egypt’s net international reserves inch up to $37.123bn in April

Hossam Mounir
Last updated: 2022/05/09 at 1:14 AM
By Hossam Mounir 1 Min Read
Share
Stock Board And US Dollar Notes Images At Korea Exchange Bank
Stock Board And US Dollar Notes Images At Korea Exchange Bank...U.S. 100 dollar notes are stacked at the Korea Exchange Bank headquarters in Seoul, South Korea, on Monday, Aug. 8, 2011. The dollar dropped to a record low against the Swiss franc and fell for a second day versus the yen after Standard & Poor's downgrade of the U.S. added to concern the fiscal health of the world's biggest economy is slipping. Photographer: SeongJoon Cho/Bloomberg
SHARE

Egypt’s net international reserves increased to $37.123bn in April, compared to $37.082bn in March, the Central Bank of Egypt (CBE) announced on Sunday.

Egypt’s international reserves consist of foreign exchange (FX), gold, special drawing rights (SDRs), and net loans from the International Monetary Fund (IMF).

The CBE said that the value of gold included in the reserves decreased to $7.597bn in April, down from $7.807bn in March.

This comes as the volume of foreign exchange reserves rose to $29.334bn, compared to $29.07bn. SDRs, however, decreased to $198m, compared to March’s $205m.

The net international reserves decreased during March to $37.082bn, compared to $40.99bn in February.

The purpose of FX reserves is to support the currency, help the state fulfil its financial liabilities, and ensure that basic commodities are imported for several months. The volume of reserves reflects a country’s strength or weakness.

The revenues of the Suez Canal, tourism, exportation, foreign investments, and remittances are the most important resources feeding the reserves in Egypt.

You Might Also Like

CBE Deputy Governor, Swiss State Secretary discuss economic cooperation

CBE Governor discusses cooperation with China Development Bank in Beijing

eSIM technology to be tested by mobile operators in Egypt soon

GAFI plans to set up financial service center in New Capital with Emirati-South African alliance

Klivvr aims to become Egypt’s largest retail institution within 7 years: Chairperson

TAGGED: International reserves
Share this Article
Facebook Twitter Email Print
Previous Article Egypt’s non-oil private sector slightly improves in April: S&P Global
Next Article NREA’s ongoing renewable energy projects attract $3.5bn worth foreign investment
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Israeli army kills Palestinian in West Bank
Israeli army kills Palestinian in West Bank
Politics Region
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
CBE Deputy Governor, Swiss State Secretary discuss economic cooperation
Business
CBE Governor discusses cooperation with China Development Bank in Beijing
CBE Governor discusses cooperation with China Development Bank in Beijing
Business
eSIM technology to be tested by mobile operators in Egypt soon
eSIM technology to be tested by mobile operators in Egypt soon
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?