Houthi assault south of Taiz limited
The Central Bank of Egypt is experiencing a deficit in its international reserves amounting to approximately 2,750 million dollars, which is higher than the previous deficit of around 1,400 million dollars, according to bank data. Over recent months, reserves have continued to decline, affecting the stability of the local currency and increasing pressure on economic policies. These challenges come amid rising demand for the dollar and a decline in foreign currency resources, leading to reserves reaching levels not seen before in Egypt and causing disruptions in the market and currencies. Authorities are continuing their efforts to maintain reserve levels and support the value of the Egyptian pound, coordinating fiscal and monetary policies to mitigate economic repercussions.
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