Cairo – Mubasher: Egypt’s gold reserves rose slightly by $20 million or 0.7% month-on-month in March 2018.
The value of the precious metal stood at $2.825 billion at the end of March, up from $2.805 billion a month earlier, according to data released by the Central Bank of Egypt (CBE) on Monday.
Meanwhile, gold reserves grew 8% year-on-year last March, versus $2.62 billion in the same month in the prior year.
The North African nation’s special drawing right (SDR) of the International Monetary fund (IMF) surged to $749 million last month.
Additionally, foreign-currency contribution to the Arab country's international reserves rose to $39.018 billion by the end of the third month of 2018, compared to $25.12 billion in the same month of 2016, the CBE highlighted.
The bank also posted that Egypt's net foreign reserves increased slightly to $42.611 billion in March 2018, compared to $ 42.524 billion a month earlier.
