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Post by : Badri Ariffin
Cairo — Egypt has reached a significant financial milestone as its net foreign reserves climbed past the US$50 billion mark for the first time. According to new data from the Central Bank of Egypt (CBE), reserves rose by US$538 million in October, reaching US$50.071 billion, up from US$49.533 billion in September.
This growth highlights the continued recovery of Egypt’s economy amid global financial pressures. The steady rise in reserves strengthens the country’s ability to secure essential imports, stabilize the local currency, and boost investor confidence.
The increase also reflects Egypt’s ongoing efforts to diversify its foreign exchange sources, including tourism revenues, remittances, and foreign investments. Analysts view the milestone as a positive signal of financial resilience, especially following a period of global economic volatility.
With reserves now at their highest level on record, Egypt is better positioned to navigate external challenges and maintain macroeconomic stability going forward.
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