Egypt’s net international reserves (foreign reserves) increased $127.9 million by the end of February 2023 to $34.352 billion, compared to $34.224 billion by the end of January 2023, according to the Central Bank of Egypt (CBE).
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.
The main function of the foreign exchange reserve, including its gold and various international currencies, is to provide commodities, repay the installments on interest rates of external debt, and to cope with economic crises.
Source: Egypt Today Magazine