Egypt’s net international reserves hit $46.941bn in October

The Central Bank of Egypt (CBE) has reported an increase in net international reserves, up to $46.941bn in October 2024, compared to $46.736bn in September, a rise of approximately $205m. Egypt’s foreign reserves consist of a basket of major international currencies, including the US dollar, the euro, the British pound, the Japanese yen, and the Chinese yuan. Egypt’s holdings in these currencies are allocated based on exchange rates and their stability in global markets, with adjustments made according to a strategic plan set by CBE officials.