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Central Bank of Egypt Reports Increase in Egypt’s Net Foreign Reserves

Egypt's net International Reserves (NIR) climbed to USD 46.597 billion (EGP 2.25 trillion) in August from USD 46.49 billion (EGP 2.25 trillion) in July, representing a gain of approximately USD 110 million (EGP 5.32 billion), according to data from the Central Bank of Egypt. Egypt’s NIR, also known as foreign currency assets, are held by the central bank as a safeguard for the nation’s economic stability. It's comprised of foreign currency assets, gold, and special drawing rights (SDRs) with the…

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