According to Zawya article published on April 7 , 2023, on a monthly basis, the amount recorded in March was 0.27% higher than the $34.35bln registered at the end of February.
Egypt’s net international reserves stood at $34.44 billion at the end of March 2023, according to official data by the Central Bank of Egypt (CBE).
On a monthly basis, the amount recorded in March was 0.27% higher than the $34.35 billion registered at the end of February.
It is worth noting that Egypt’s foreign reserves started 2023 with $34.22 billion in value.
On 30 March 2023, the CBE announced a 2% interest rate increase in line with global economic changes. The Monetary Policy Committee (MPC) decided to increase the overnight deposit and lending rates, as well as the rate of the main operation by 200 basis points (bps). The discount rate was also raised by 200 bps to 18.75%.
