Egypt Daily News – The Central Bank of Egypt revealed that net foreign reserves increased to 47.265 billion dollars at the end of January 2025, compared to 47.109 billion dollars at the end of December 2024, an increase of $ 156 million.
The foreign reserve of Egypt consists of a basket of major international currencies, including the US dollar and the European unified currency, the euro, the British pound, the Japanese yen and the Chinese yuan, a percentage of distributing Egypt’s possessions from them on the basis of exchange rates for these currencies and the extent of their stability in international markets, and changes according to a plan set before Egyptian Central Bank officials.
The basic function of the foreign exchange reserves of the Central Bank, with its components of gold and various international currencies, is to provide basic commodities, pay the premiums and benefits of external debt, and to confront economic crises, in exceptional circumstances, with resources affected by the sectors of hard currency, such as exports, tourism, the Suez Canal and investments, because of the turmoil, other sources of hard currency, such as the transfers of Egyptians abroad that have reached a record level, and the stability of the Suez Canal revenues, contribute to supporting the reserve in some months.
