Egypt’s foreign-currency reserves climbed to a record in January just as as the government prepares to raise as much as $5 billion from an international bond sale.
Reserves rose $1.2 billion, the most since July, to $38.2 billion, central bank data showed on Sunday. Foreign currency inflows to the central bank and other financial institutions increased by $1.5 billion to $5.6 billion, Central Bank Governor Tarek Amer said in a text message, without elaborating. Egypt repaid $290 million of a $350 million installment to Paris Club members in January, he said.