Egypt’s foreign currency reserves include Euros, US Dollars, Australian Dollars, Japanese Yen, and Chinese Yuan.
Egypt's net international reserves reached $34.97 billion at the end of September 2023, an increase of $1 billion from the previous month, according to the Central Bank of Egypt. This is the highest level of reserves since 2019.
The high level of reserves provides a buffer against external shocks and helps to maintain confidence in the Egyptian economy. Egypt’s foreign currency reserves include Euros, US Dollars, Australian Dollars, Japanese Yen, and Chinese Yuan.
The increase in reserves is attributed to a number of factors, including increased tourism revenue and foreign investment.
The tourism sector witnessed a 20% increase in the number of visitors during the first nine months of 2023 compared to the same period in 2022.
Foreign investment has also been on the rise, with a 10% increase in the first half of 2023 compared to the same period in 2022.
