Increase reflects the continued improvement of economic indicators
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CAIRO: Egypt’s net foreign reserves exceeded US$50 billion for the first time, rising by US$538 million to reach US$50.071 billion at the end of October, compared to US$49.533 billion in September.
In a statement today, the Central Bank of Egypt said that the increase reflects the continued improvement of economic indicators and the Egyptian economy’s ability to strengthen its foreign exchange holdings and support financial stability.
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