Egypt recorded its highest level of foreign reserves in its history, the Central Bank of Egypt announced Sunday.
In an official statement reported by the state-owned MENA agency, the bank said that reserves climbed from $36.535 billion at the end of September 2017 to $36.703 billion at the end of October.
At the end of July, foreign net reserves jumped to $36.036 billion, hitting pre-2011 levels for the first time since the 25 January uprising, with international net reserves increasing $4.7 billion in July alone.
The reserves have been climbing since Egypt signed an agreement for a three-year $12 billion loan with the International Monetary Fund (IMF) in November 2016, shortly after the country s decison to float its currency.
