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Central Bank of Egypt: Gold reserve reaches US $22 b
Published in Youm7 on 09 - 11 - 2011

CAIRO: The Egyptian Gold reserve in the foreign exchange reached U.S. $ 2.743 billion from the total of the international foreign exchange, which costs U.S. $22.1 billion at the end of October of 2011, according to a report issued by the Central Bank of Egypt.
The foreign exchange of Egypt lost U.S. $2 billion in October, declining to U.S. $22.1 billion from U.S. $24 billion in September, the report said. The foreign exchange declined by U.S. $14 billion since the beginning of the current year.
The weight of gold for covering cash liquidity in the Central Bank of Egypt reached 75.6 tons with a cost of U.S. $4.4 billions during the past few weeks after finishing the 2011 inventory, according to the report.
Governor of the Central Bank of Egypt, Farouk el-Oqda, ordered to form an inventory committee consisting of 15 members for the Egyptian gold reserve every five years.


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