International Reserves
Foreign currency reserves dipped slightly from $36.9 billion in June to $36.3 billion last month.
Egypt’s slow but steady NIRs growth, despite paying off large sums of outstanding debt, reflects a positive trend in the economy’s recovery.
The CBE helped increase its foreign reserves through the Ras El Hikma deal, valued at $35 billion, which Egypt successfully completed with the UAE at the end of last February.
Egypt’s net international reserves continue to recover after hitting its lowest recording in August 2022 at $33.14 billion, falling from $40.9 billion in February 2022
Egypt’s credit rating outlook maintained stable by global credit rating agency Moody's Investors Service late Friday.
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