2023-08-06 14:01:00
The Central Bank of Egypt: Net foreign reserves rose to $34.879 billion in July
Cairo – Archyde.com
Posted on: August 06, 2023: 06:01 PM GST Last updated: August 06, 2023: 06:39 PM GST
The Central Bank of Egypt said today, Sunday, that net foreign reserves rose to 34.879 billion dollars in July from 34.807 billion in June.
The foreign exchange reserves of the Central Bank of Egypt increased by $130 million at the end of June, to reach $34.81 billion, from $34.66 billion at the end of May.
And the Central Bank of Egypt announced, in a surprising move last Thursday, that it raised the main overnight interest rates by 100 basis points, “to avoid inflationary pressures and control inflation expectations.”
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