Cairo – Mubasher: Egypt’s gold reserves decreased by $19 million or 0.7% month-on-month at the end of November, data released by the Central Bank of Egypt (CBE) showed Wednesday.
The North African nation’s reserves of the precious metal were valued at $2.612 billion last month, compared to $2.631 billion in October, according to the CBE.
Year-on-year, gold reserves fell slightly in November from $2.702 billion.
The country’s special drawing rights (SDR) of the International Monetary fund (IMF) declined to $580 million last month, versus $753 million in November 2017.
Moreover, foreign-currency contribution to the most populous Arab country's international reserves grew to $41.3 billion at the end of November, versus $41.21 billion in the same month last year, the CBE highlighted.
The CBE also said that Egypt's foreign reserves rose in October to $44.51 billion by the end of November.
