Egypt’s international reserves jump $5bln in March

Reuters

Reserves amounted to $35.31bln in February, according to the CBE’s data

Staff Writer, Mubasher

April 4, 2024

PHOTO

Cairo – The net international reserves (NIR) at the Central Bank of Egypt (CBE) surged by $5 billion to $40.36 billion at the end of March 2024.

Reserves amounted to $35.31 billion in February, according to the CBE’s data.

Egypt’s NIR reached $35.24 billion at the end of January 2024, up from $35.21 billion in December 2023.

The country’s foreign asset deficit dipped around 24.23% month-on-month (MoM) to EGP 678.98 billion ($14.38 billion) in February 2024 from EGP 896.12 billion ($18.98 billion).

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