Egypt’s Net International Reserves Rise to 56.29 Billion Dollars at End-July
Egypt’s net international reserves rose to 56,293.9 million dollars at the end of July 2026, the Central Bank of Egypt reported on 5 August 2026. The figure is provisional and represents an increase of 1,221.6 million dollars, or 2.22 percent, on the 55,072.3 million dollars recorded at the end of June.
July was the seventh consecutive monthly increase of 2026 and, by our calculation, the second largest of the year after June’s rise of 1,938.1 million dollars.
| Net international reserves (million dollars) | Level | Change on previous month |
|---|---|---|
| End-December 2025 | 51,451.6 | — |
| End-January 2026 | 52,593.8 | +1,142.2 |
| End-February 2026 | 52,745.5 | +151.7 |
| End-March 2026 | 52,830.6 | +85.1 |
| End-April 2026 | 53,009.2 | +178.6 |
| End-May 2026 | 53,134.2 | +125.0 |
| End-June 2026 (provisional) | 55,072.3 | +1,938.1 |
| End-July 2026 (provisional) | 56,293.9 | +1,221.6 |
Measured against the end-December 2025 level, reserves have risen by 4,842.3 million dollars, or 9.41 percent, in the first seven months of the year. Against the end-July 2025 level of 49,036.0 million dollars, the annual increase is 7,257.9 million dollars, or 14.80 percent, on our calculation.
The shape of the year matters as much as the total. Reserves rose by only 540.4 million dollars in aggregate across February, March, April and May, then by 3,159.7 million dollars in June and July combined. On our reading, that concentration is consistent with discrete inflows in June and July rather than with a steady month-by-month accretion, although the Central Bank publishes no composition breakdown for these months and the underlying sources are not disclosed.
The reserve build has come alongside a still-contracting non-oil private sector. The S&P Global Egypt PMI improved to 46.8 in July, up from June’s 41-month low of 46.0, with the release carrying the strapline “Outlook brightens as price pressures ease.” New orders fell for a seventh consecutive month and employment declined marginally, while input cost inflation was the softest in six months and the Future Output Index reached its highest level since June 2022. David Owen, Principal Economist at S&P Global Market Intelligence, said that “the upshift in business confidence in July showed that firms saw some light at the end of the tunnel.”
Why it matters: A reserve position approaching 56.3 billion dollars gives the Central Bank of Egypt a materially wider buffer than it held a year ago, and the 14.80 percent annual increase is the clearest measure of that improvement. On our reading the significance is in external resilience rather than in domestic demand: reserves have strengthened while the PMI has spent seven consecutive months signalling falling new orders, so the two series are describing different parts of the economy. For Gulf investors with Egyptian exposure, the buffer strengthens Egypt’s headline foreign-currency liquidity position, all else equal, while the business survey indicates that the domestic recovery has not yet begun.
Looking ahead: The Central Bank publishes the end-August reserve figure in early September, at which point the June and July readings may subsequently be revised from provisional. The August PMI is due in early September.
Sources: Central Bank of Egypt, Net International Reserves reached US 56,293.9 mn dollars at the end of July 2026 (Provisional), 5 August 2026, and the Bank’s published monthly reserve series; S&P Global, Egypt PMI, 4 August 2026.
