Fatima Nashat - Amwal Al Ghad

The Central Bank announced an increase in the balance of foreign exchange reserves by $222 million, to record $34.224 billion at the end of last January, compared to $34.002 billion at the end of December 2022.

Egypt's foreign reserves consist of a basket of major international currencies, including the US dollar, the single European currency, the euro, the pound sterling, the Japanese yen and the Chinese yuan, a percentage of which Egypt's holdings are distributed based on the exchange rates of those currencies and the extent of their stability in international markets, and it changes according to a plan set by Central Bank of Egypt officials.