The Central Bank of Egypt's foreign exchange reserves jumped to an unprecedented historic level, exceeding $ 46 billion, by the end of May, after the country received financial payments denominated in dollars, from the UAE, the International Monetary Fund, and other sources.
According to the Central Bank of Egypt, Egypt's net international reserves rose to $46.126 billion in May, from $41.057 billion in April. According to historical data of the Central Bank of Egypt, foreign reserves have never recorded such a high level.
On May 15, the Egyptian Cabinet announced the receipt of $14 billion, representing the second and final installment of the Ras Al Hikma area development project, in cooperation with the Abu Dhabi Development Holding Company (Abu Dhabi Sovereign Fund).
Source (Al-Araby Al-Jadeed Newspaper, Edited)
Foreign Exchange Reserves at the Central Bank of Egypt Reach a Record Level
