BOLDEN African News · Friday 6 November 2026
Egypt's foreign reserves reach a record $57.5 billion
Central Bank of Egypt governor Hassan Abdalla said on 6 November that foreign currency reserves reached a record $57.5 billion at the end of October, and that net foreign assets in the banking sector are at their highest since 2011. He reaffirmed the bank's commitment to a flexible exchange rate.
Why it matters
Larger reserves reduce the risk of the currency shortages that held back imports and investment in Egypt in recent years.
Source: Egyptian Gazette · 6 November 2026