As of June 2023, the Central Bank of Egypt (CBE) held 35 billion U.S. dollars as foreign exchange reserves, stable since April 2023. During the period under review, the reserves fluctuated, peaking in February 2020 at 46 billion U.S. dollars. The lowest level was recorded between June 2022 and October 2022 at around 33 billion U.S. dollars. In an attempt to mitigate the monetary risks that could occur due to the coronavirus (COVID-19) pandemic, the CBE managed to secure a 2.774 billion U.S. dollars Rapid Financing Instrument and a 5.2 billion U.S. dollars 12-month Stand-by Arrangement in April and May 2020. Furthermore, the IMF Executive Board approved a three billion U.S. dollars Extended Fund Facility over 46 months in December 2022.
Monthly foreign exchange reserves from November 2019 to June 2023
(in billion U.S. dollars)
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LYNX Advisors. (July 10, 2023). Monthly foreign exchange reserves from November 2019 to June 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1246776/monthly-foreign-reserves-in-egypt/
LYNX Advisors. "Monthly foreign exchange reserves from November 2019 to June 2023 (in billion U.S. dollars)." Chart. July 10, 2023. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1246776/monthly-foreign-reserves-in-egypt/
LYNX Advisors. (2023). Monthly foreign exchange reserves from November 2019 to June 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1246776/monthly-foreign-reserves-in-egypt/
LYNX Advisors. "Monthly Foreign Exchange Reserves from November 2019 to June 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 10 Jul 2023, https://www.statista.com/statistics/1246776/monthly-foreign-reserves-in-egypt/
LYNX Advisors, Monthly foreign exchange reserves from November 2019 to June 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1246776/monthly-foreign-reserves-in-egypt/ (last visited August 25, 2024)
Monthly foreign exchange reserves from November 2019 to June 2023 (in billion U.S. dollars) [Graph], LYNX Advisors, July 10, 2023. [Online]. Available: https://www.statista.com/statistics/1246776/monthly-foreign-reserves-in-egypt/
