Tuesday , March 28 2023

Central Bank: Cash reserves rose to $ 39.221 billion at the end of November


The Central Bank of Egypt raised its total foreign exchange reserves to $ 39.221 billion at the end of November.

The bank said in a statement that the cash reserve had increased by $ 1.8 million at the end of October.

The Central Bank has confirmed that the Egyptian economy has been able to absorb the impact of the global financial crisis caused by the emerging corona virus crisis, as transactions with the outside world of the Egyptian economy witnessed the second half of the current account deficit stabilizing in the second half of the financial year 2019/2020. Corona Pandemic’s expansion reached about $ 11.2 billion, slightly above the deficit level achieved in the 2018/2019 fiscal year, recording approximately $ 10.9 billion.

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