Egypt: Foreign exchange reserves rise to $ 39.22 billion in October

The Central Bank of Egypt said that net foreign exchange reserves rose to $ 39.22 billion by the end of last October.

In a statement yesterday, Tuesday, the Central Bank added that net foreign exchange reserves rose by $ 795 million, from $ 38.425 billion at the end of last September.

Last May, Egypt received $ 2.7 billion from the International Monetary Fund, which represents the value of the rapid credit financing granted to the Egyptian government.

Egypt and the IMF team reached an expert-level agreement on a credit agreement for a period of 12 months, valued at $ 5.2 billion.