Egypt's net international reserves hit record $49.04bn in July: CBE
This marks the highest level of foreign currency reserves ever recorded in Egypt, supported by stronger inflows from export earnings, tourism revenues, remittances from Egyptians abroad, and foreign direct investment.
According to CBE data, gold holdings within the reserves rose to $13.639bn in July from $13.586bn in June—an increase of $53m. The value of foreign currencies also advanced to $35.216bn from $35.076bn, up by $140m. Special Drawing Rights (SDRs) grew notably, reaching $183m from $41m the previous month, an increase of $142m.
Egypt's reserves comprise a mix of major international currencies, including the US dollar, euro, British pound sterling, Japanese yen, and Chinese yuan. Their distribution is determined by exchange rate movements and stability in global markets, following a strategy set by the CBE.
The reserves—made up of gold and foreign currencies—serve as a financial buffer to secure essential imports, meet external debt obligations, and help the country navigate economic shocks, particularly during periods when foreign currency-generating sectors face pressure.
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