Central Bank of Egypt Governor Hassan Abdalla highlighted record foreign exchange reserves of USD 57.50 billion at the end of October 2026 and reiterated the bank’s focus on reducing inflation and maintaining a flexible exchange rate determined by market forces. He was delivering opening remarks at the 49th annual conference of the Arab Federation of Financial Market Dealers in Egypt. The policy approach builds on the reforms undertaken in 2024, with exchange rate flexibility helping absorb external shocks. Banking sector net foreign assets had reached their highest level since 2011, while inflation had declined. Abdalla also discussed the central bank’s use of artificial intelligence through its Data Science Center to improve operational efficiency and economic analysis. He emphasized that expanding these applications requires strong risk management, governance and cybersecurity frameworks to limit risks to financial stability and markets.
Central Bank of Egypt governor highlights record USD 57.50 billion reserves and reiterates flexible exchange rate policy
Central Bank of Egypt Governor Hassan Abdalla highlighted record foreign exchange reserves of USD 57.50 billion at the end of October 2026 in remarks at the Arab Federation of Financial Market Dealers’ annual conference. He reaffirmed the bank’s focus on reducing inflation and maintaining a flexible exchange rate determined by market forces. He also emphasized the need for strong risk management, governance and cybersecurity as artificial intelligence use expands.