Egypt’s foreign reserves hit record high of $50.07 billion in October

The Central Bank of Egypt (CBE) announced on Sunday that the country’s net international reserves reached a historic 50.07 billion U.S. dollars by the end of October, up from 49.53 billion dollars in September.
This marks the highest level of foreign reserves in Egypt’s history, reflecting the impact of ongoing financial reforms and a resurgence in foreign investment inflows.
Economic analyst Abu Bakr al-Deeb described the achievement as a significant turnaround following years of economic pressure and foreign currency shortages, highlighting renewed investor confidence in the Egyptian economy.
According to analysts, the surge in reserves was driven by major investment deals, growth in non-petroleum exports, and a steady rise in remittances from Egyptians working abroad. These reserves—comprising foreign currencies, gold, and IMF special drawing rights—serve as a crucial buffer for debt servicing, import payments, and currency stabilisation. The record figure underscores Egypt’s strengthened capacity to withstand global financial shocks, supported by revenue from tourism, the Suez Canal, exports, and foreign investments.