Egypt NIR hits record high as gold holdings jump $1.9 billion in August
Central Bank of Egypt data show Egypt’s gold reserves rose month-on-month by $1.92 billion in August, lifting net international reserves (NIR) to a record high even as foreign currency holdings declined.
92 billion in August, helping lift the country’s net international reserves to a record high, according to data from the Central Bank of Egypt (CBE), even as foreign currency holdings fell. The report said the increase in gold holdings offset the decline in foreign currency reserves.