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Egypt Forex Reserves Hit $57.35B
Egypt's Central Bank foreign exchange reserves increased to $57.35 billion at the end of September, marking a new record high after rising by approximately $133 million. The reserve has been rising for the 49th consecutive month, supported by improved liquidity levels, especially following the $35 billion Ras Al Hokhma deal with the UAE in February 2024. This deal contributed to an increase of about $22 billion in reserves and helped Egypt recover from a major foreign currency crisis.
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