Egypt Raises Its Reserves to $57.35 Billion as Gold's Share Drops to 30.4%

Egypt's net international reserves rose to about $57.348 billion by the end of September 2026, compared to $57.214 billion at the end of August, an increase of approximately $134 million or 0.23%, according to data from the Central Bank of Egypt.

Foreign currency balances surged by $1.739 billion to $39.292 billion, while the dollar value of gold fell by $1.602 billion to $17.456 billion, according to the same data.

Thus, the share of gold in total reserves fell to about 30.4% compared to 33.3% a month earlier, a change mainly reflecting global gold price movements and its lower dollar value, rather than gold sales by the central bank.

These figures represent the external assets available to the central bank to defend the Egyptian pound's exchange rate and cover the import bill. The central bank issues reserve data monthly, which market players compare against coverage levels and currency movements. This development is particularly relevant to investors in Egyptian debt instruments, as stable reserves reduce the likelihood of currency pressure and bolster foreign investor confidence in the market.

What Do These Terms Mean?

Net International Reserves: The total liquid foreign assets held by the central bank after deducting short-term liabilities, including foreign currencies, gold, and Special Drawing Rights (SDRs).

Import Coverage: The number of months a country can finance its imports using its foreign reserves without other sources, used as a measure of external position strength.

Exchange Rate: The value of the local currency against another currency, which the central bank defends using reserves when necessary.