moshe rabbeinu - Moses' Hebrew name was given to him in Egyptian?

In שְׁמוֹת it says:

וַתֹּ֧אמֶר לָ֣הּ בַּת ־ פַּרְעֹ֗ה הֵילִ֜יכִי אֶת ־ הַיֶּ֤לֶד הַזֶּה֙ וְהֵינִקִ֣הוּ לִ֔י וַאֲנִ֖י אֶתֵּ֣ן אֶת ־ שְׂכָרֵ֑ךְ וַתִּקַּ֧ח הָאִשָּׁ֛ה הַיֶּ֖לֶד וַתְּנִיקֵֽהוּ ׃ וַיִגְדַּ֣ל הַיֶּ֗לֶד וַתְּבִאֵ֙הוּ֙ לְבַת ־ פַּרְעֹ֔ה וַֽיְהִי ־ לָ֖הּ לְבֵ֑ן וַתִּקְרָ֤א שְׁמוֹ֙ מֹשֶׁ֔ה וַתֹּ֕אמֶר כִּ֥י מִן ־ הַמַּ֖יִם מְשִׁיתִֽהוּ ׃

Pharaoh’s daughter said to her, “Take this child away, and nurse him for me, and I will give you your wages.” The woman took the child, and nursed it. The child grew, and she brought him to Pharaoh’s daughter, and he became her son. She named him Moses, and said, “Because I drew him out of the water.”

My question is, how do you explain this? Was it Moses's mother who named him saying “Because I drew him out of the water.” Or was it Pharaoh's daughter? If it was Pharaoh's daughter, how do you explain her knowing Hebrew?

Any guidance at all on how to properly interpret this passage would be much appreciated. Thanks in advance.