Egypt's net foreign exchange reserves rose to $48.700 billion at the end of June, up from $48.526 billion in May, the Central Bank of Egypt (CBE) said on Monday. The $174 million increase marks a 0.36 per cent rise month-on-month, reflecting improved external liquidity and growing investor confidence. The steady uptick in reserves comes on the back of robust foreign inflows, state asset sales, and progress on Egypt's economic reform programme. The rise is further supported by higher remittance inflows, a recovering tourism sector, and enhanced access to external financing following recent agreements with the International Monetary Fund (IMF) and international development partners. Attribution: Amwal Al Ghad English Download
