Central Bank report shows significant spike in foreign reserves

A monthly Central Bank of Egypt (CBE) report released on Wednesday reveals a recent spike in the country’s net foreign exchange reserves to US$35.54 billion at the end of this October. The reserve total is up from US$35.22 billion in June, an increase of more than US$3 million.

Total CBE investments in the last fiscal year reached LE224.4 billion according to the report, representing nearly a 14 percent spike.

The report also highlights an increase in domestic liquidity by 1.9 percent to LE935.2 billion. That figure was registered at the end of August.

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