CBE announces decrease of $ 3.91 bln in foreign reserves ...Egypt

The Central Bank of Egypt announced a decrease of US$ 3.91 billion in foreign reserves for the first time in 20 months. The cash reserves of foreign currencies decreased by the end of March 2022, by $3.91 billion, to $37.082 billion, as the reserves were used to absorb the shock of foreign markets. The Central Bank of Egypt said that the balance of foreign exchange reserves with the Central Bank of Egypt at the end of March 2022 recorded about $37.082 billion, compared to about $40.99 billion at the end of February 2022. In compliance with the role of the Central Bank of Egypt in maintaining the stability of the Egyptian markets, and in light of the turbulent global economic conditions as a

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