Cairo — Egypt’s net international reserves increased to $57.348 billion at the end of September, up from $57.215 billion in August, according to data released by the Central Bank of Egypt on Wednesday.
The increase of about $133 million adds to Egypt’s foreign-currency buffer as the country continues efforts to strengthen its external position and maintain stability in the foreign-exchange market.
Foreign reserves are closely watched as an indicator of Egypt’s ability to meet external obligations, support imports and manage pressures on its currency.
Source: Reuters
Writing: Tala Ramadan
Editing: Andrew Heavens
