The Central Bank of Egypt (CBE) announced that net foreign reserves amounted to $33.53 billion at the end of November.
The Central Bank had revealed that Egypt's net foreign reserves increased by the end of October to about $33.41 billion.
The Monetary Policy Committee (MPC) of the Central Bank decided, in its extraordinary meeting on October 27, to raise the rates of the one-night deposit and lending return and the price of the main operation of the Central Bank by 200 basis points to 13.25% for deposits, the one-night deposit and lending return and the price of the main operation to 13.25%, 14.225%, and 13.75%, respectively.
It also set the credit and discount rates at 13.75%.
In a statement, the Central Bank stated that reform measures have been taken to ensure macroeconomic stability and achieve sustainable and comprehensive economic growth.
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