The Central Bank of Egypt revealed that net foreign reserves rose to $ 34.879 billion in July from $ 34.807 billion in June.
The Central Bank of Egypt's foreign exchange reserves rose by $130 million by the end of June, reaching $34.81 billion, from $34.66 billion at the end of May.
In a surprise move, the Central Bank of Egypt announced an overnight rate hike of 100 basis points "to avoid inflationary pressures and control inflation expectations."
Source (Al-Arabiya.net Website, Edited)
