Egypt's foreign reserves hit record high of 50.07 bln USD by Oct.


CAIRO, Nov. 9 (Xinhua) -- The Central Bank of Egypt (CBE) announced on Sunday that the country's net international reserves (NIRs) reached a record high of 50.07 billion U.S. dollars by the end of October, up from 49.53 billion dollars recorded at the end of September.

The figure represents the highest level of foreign reserves in the country's history, underscoring the success of recent financial reforms and significant inflows of foreign investment, analysts say.

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