Cairo - Mubasher: The rise in Egypt’s foreign reserves supports the stability of the Egyptian pound against the US dollar in the fourth quarter of 2018, according to a research report by Beltone Financial Holding.
Foreign reserves are increasing despite the absence of official changes, which indicates a general stability in reserve levels and the ability to meet the country’s commitments, the research firm said in a report on Thursday.
Egypt has debt commitments of around $6 billion in the second half of the year.
Small fluctuations in the foreign exchange market is still possible, according to Beltone.
Egypt's foreign reserves rose marginally in August to $44.41 billion, compared to $44.31 billion in July.