CBE: Foreign reserves rose to $34.224 billion by Jan-23 end

The Central Bank of Egypt announced that the volume of foreign exchange reserves increased by $222 million during January 2023, to reach $34.224 billion, compared to $34.002 billion by the end of December 2022.

It is noteworthy that CBE revealed an increase in the volume of foreign exchange reserves by $470 million during December, to reach $34 billion, compared to $33.53 billion by the end of November 2022.

Furthermore, the CBE affirmed the foreign reserves are keeping its upward trend for the fourth consecutive month, to achieve an increase of more than $860 million during the last 4 months.

The CBE further noted that $2.5 billion has been paid in dues related to the state’s external debit at $1.5 billion in November, and $1 billion in December.