Cairo - Mubasher: The Central Bank of Egypt (CBE) announced on Tuesday, that the country’s net international reserves reached $19.041 billion at the end of October 2016, declining by around $551 million from its level in September.
Egypt’s foreign exchange reserves reached $19.592 billion in September, compared to $16.564 billion in August, and $15.536 billion in July, according to the data of the CBE.
Last week, the Central Bank of Egypt (CBE) decided to float the Egyptian pound, which means that exchange rates will be decided according to the market's supply and demand, it also increased interest rates by 300 basis points.
