The net foreign reserves of the Arab Republic of Egypt continued to rise during the month of October, recording an increase of 24 million dollars, reaching nearly 40.9 billion dollars, according to a statement by the Central Bank of Egypt.
The cash reserve in Egypt, last September, scored 40.825 billion dollars, and the Egyptian reserve covers about 7 months of imports.
Egypt's foreign exchange reserves have been gradually growing since June 2020, after its balances decreased to about $36 billion at the end of May 2020, from more than $45.5 billion.< /p>
Saudi Arabia had said a few days ago that it had re-deposited $3 billion in the Central Bank of Egypt after paying it last July.
The Saudi Ministry of Finance recently provided a $3 billion deposit to the Central Bank of Egypt, in addition to extending previous deposits of $2.3 billion.
