Egypt’s foreign reserves increased to $US36.534 billion in September from $36.143 in August, rising by $391 million, the Central Bank of Egypt (CBE) announced on Monday. In August the CBE said that foreign reserves surpassed for the first time pre-January 25 revolution rates which amounted to $36.005 in December 2010 and $36.143 in January 2011. The country’s foreign reserves rose by $US180 million in June, an increase equal to 0.57 percent of Egypt’s total foreign reserves, the CBE announced in July. The net foreign currency reserves stood at $31.305 billion in June, according to the CBE statement. Previously, the country’s foreign reserves rose to $31.125 billion at the end of May from $28.641 billion in April — an increase of about $2.5 billion.

Source: Egypt Independent October 02, 2017 11:48 UTC