CAIRO, Egypt / AfricaWire.IO / – Egypt’s net international reserves rose to a record $57.5 billion at the end of October 2026, up $151.6 million from September, according to data released by the Central Bank of Egypt (CBE). Reserves stood at $57.4998 billion at the end of the month, compared with $57.3482 billion a month earlier. The increase marks another all-time high for the country’s foreign currency buffer and extends a steady run of gains through 2026.
The latest rise brings cumulative growth in reserves to about $6.05 billion since December 2025, when they stood at roughly $51.45 billion. That equals an increase of nearly 12% in 10 months. Reserves had already set successive records, reaching $57.2 billion in August and $57.35 billion in September. September’s figure marked the ninth consecutive monthly gain, Arab News reported, citing CBE data. September reserves were also up $7.81 billion, or 15.8%, from a year earlier.
Foreign currency holdings rose by $768 million to $40.06 billion in October, according to CBE data reported by local media. The value of gold reserves fell by $613 million to $16.84 billion, offsetting much of that gain. Special drawing rights slipped slightly to $599 million. Analysts say changes in the value of gold reserves largely reflect movements in world prices rather than changes in physical holdings.
Remittances lead foreign inflows
The continued accumulation of reserves comes amid sustained foreign currency inflows from remittances, tourism, exports and foreign investment. Remittances from Egyptians working abroad reached $33.9 billion in the first eight months of 2026, up 27.2% from a year earlier. For the 2025/2026 fiscal year, remittance inflows exceeded $47.3 billion, making them a major source of foreign currency for the economy.
Tourism revenue reached $12 billion in the first eight months of the year, up about 1.7%, according to Daily News Egypt. Exports totaled $31.9 billion in the first seven months, compared with $29.9 billion a year earlier. Suez Canal revenue rose to $1.26 billion in the second quarter, up 13% from the first quarter. Together, these flows have helped Egypt rebuild its external buffers.
IMF support and remaining risks
The International Monetary Fund completed the seventh review of Egypt’s Extended Fund Facility in July, allowing a further disbursement of about $1.8 billion. Total purchases and disbursements under the IMF arrangements have reached about $7.3 billion. The IMF said gross reserves were equal to 119% of its reserve adequacy measure at the end of June. The CBE kept its overnight deposit rate at 19% in September. Banks’ net foreign assets reached $31.2 billion in August, the highest since January 2020.
IMF economists have noted that a flexible exchange rate and stronger buffers helped Egypt absorb regional shocks. They also warned that high public debt, large financing needs and exposure to global financial conditions remain significant vulnerabilities. Banking expert Mohamed Abdel Aal said reserves are likely to keep rising in the fourth quarter, depending on geopolitical developments and energy prices.