Egypt’s Gold Holdings in Foreign Reserves Hit $2.621 Billion – 4/08/2017

 Egypt’s Gold Holdings in Foreign Reserves Hit $2.621 Billion

Gold holdings in Egypt’s foreign reserves hit $2.621 billion in March

Egypt’s gold holdings recorded around $2.621 billion of foreign reserves, almost 47.1 billion Egyptian pounds, at the end of March, the country’s central bank said Saturday.

In March 2016, gold holdings amounted to $2.533 billion, equivalent to 45.6 billion pounds.

The Central Bank of Egypt (CBE) announced a week earlier that the country’s foreign reserves reached highest levels since March 2011, to more than $28.5 billion by the end of March, from $26.5 billion in the month before.

In March, Egypt received the second $1 billion tranche from a $3 billion World Bank loan, as well as the second $500 million tranche from a $1.5 billion loan from the African Development Bank (AfDB).

http://en.amwalalghad.com/business/banks/56173-gold-holdings-in-egypts-foreign-reserves-hit-2621-billion-in-march.html

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