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Egypt's foreign exchange reserves reached about $57.5 billion at the end of October, up $152 million from September, and the central bank governor confirmed the figure on November 6. The pound had weakened past EGP 56 per dollar, the central bank raised rates by 100 basis points on October 29, and Egypt was seeking to complete the final reviews of its IMF program before it expires on December 15.
The pound's weakness raises the local-currency cost of imported feed and farm inputs, while higher reserves and a potential IMF agreement could help ease pressure on foreign-currency availability. Tighter monetary policy may support the pound but also raises domestic financing costs.
mefiles.newsThe Editor Egypt FileNov 7, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
