Egypt's foreign exchange reserves rose to 44.46 billion U.S. dollars in September, the Central Bank of Egypt (CBE) said in a statement on Monday.

"Egypt's forex increased by 44 million U.S. dollars to reach 44.46 billion dollars at the end of September," said the CBE.

Egypt has been going through a strict three-year economic reform program since late 2016, including austerity measures, energy subsidy cuts and tax increases.

The International Monetary Fund supported Egypt's economic reform plan by a 12-billion-dollar loan, two thirds of which has already been delivered to the North African country.