Cairo – Mubasher: Egypt’s gold reserves increased by $86 million or 3.3% month-on-month at the end of October, data by the Central Bank of Egypt (CBE) showed Monday.
The North African nation’s reserves of the precious metal valued at $2.631 billion last month, compared to $2.545 billion in September, according to the CBE.
Year-on-year, gold reserves fell slightly in October, versus $2.640 billion in the same month a year earlier.
The country’s special drawing right (SDR) of the International Monetary fund (IMF) declined to $643 million last month, versus $766 million in October 2017.
Moreover, foreign-currency contribution to the most populous Arab country's international reserves fell to $41.21 billion at the end of October, versus $41.25 billion in the same month last year, the CBE highlighted.
The CBE also said that Egypt's foreign reserves rose marginally in October to $44.501 billion, compared to $44.459 billion in September.
