Central Bank of Egypt Continues to Increase Foreign Exchange Reserves for Ninth Month in a Row

10:45 p.m

Tuesday 06 June 2023

I wrote – Manal Al-Masry:

The Central Bank of Egypt announced an increase in foreign exchange reserves by $109 million during the month of May, for the ninth month in a row.

Central bank data on its website showed a rise in foreign exchange reserves to $34.660 billion at the end of May, compared to $34.551 billion at the end of April.

Egypt is working to build foreign exchange reserves within the framework of an economic reform program in which it cooperates with the International Monetary Fund, which finances it at a value of $3 billion.