The Central Bank of Egypt (CBE) announced that net international foreign exchange reserves rose to about $46.737 billion in September, compared to about $46.597 billion at the end of August, an increase of about $140 million.
Egypt imports an average of $7 billion per month in goods and products from abroad, with an annual total estimated at more than $70 billion.
Therefore, the current average of foreign exchange reserves covers about 8 months of Egypt's commodity imports, which is higher than the global average of about 3 months of Egypt's commodity imports, which secures Egypt's needs for basic and strategic commodities.
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