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Egypt's Net Int'l Reserves Surpass USD 50 Bln
(MENAFN- Kuwait News Agency (KUNA))
CAIRO, Nov 9 (KUNA) -- The Central Bank of Egypt said on Sunday that its Net International Reserves (NIR) reached USD 50.071 billion last October, marking the highest level in the country's history.
The Central Bank added that the NIR rose by USD 538 million in October, to reach USD 50.071 billion, compared with USD 49.533 billion at the end of September.
According to the Central Bank, the NIR are external assets that are held outside Egypt for precautionary and transactional purposes.
They are readily available and fully controlled by the Central Bank of Egypt. (end)
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The Central Bank added that the NIR rose by USD 538 million in October, to reach USD 50.071 billion, compared with USD 49.533 billion at the end of September.
According to the Central Bank, the NIR are external assets that are held outside Egypt for precautionary and transactional purposes.
They are readily available and fully controlled by the Central Bank of Egypt. (end)
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