Central Bank of Egypt’s gold holdings increase by 6% in October

Ahram Online , Wednesday 22 Nov 2023

The gold holdings of the Central Bank of Egypt (CBE) increased by 6 percent to EGP 249.64 billion ($8.08billion) in October from EGP 235.64 billion ($7.63 billion) in September, according to the monthly balance sheet released on Wednesday.

File Photo: Gold bars. AFP
File Photo: Gold bars. AFP


The CBE’s total assets rose to EGP 4.729 trillion in October compared to EGP 4.62 trillion in September.

Egypt's gold reserves increased to reach an all-time high of 125.92 tons in the third quarter of 2023, according to a report by the World Gold Council.

The CBE revealed a slight uptick in international reserves, climbing to $35.1 billion in October from $34.97 billion in September.

Egypt’s foreign asset deficit amounted to nearly $25.92 billion in August.

The country seeks to collect $191 billion in annual US dollar revenues by 2026.

The Egyptian government aims to attract $5 billion from offering power plants and state-owned companies from October 2023 until June 2024.

Short link: