Arab Finance: Kuwait has extended the maturity of a two-tranche deposit worth $4 billion at the Central Bank of Egypt (CBE) to back Egypt’s foreign currency reserve, two government officials told Asharq Business on November 13th.
The first tranche, worth $2 billion, was extended to April 2024, whereas the second will be matured in September 2024.
In October, Egypt’s net international reserves (NIR) rose to $35.101 billion, with foreign currencies accounting for $26.635 billion, according to the CBE.