Following the 25 January Revolution, Egypt's foreign exchange reserves have been constantly drained at unsustainable rates in order to prevent currency devaluation. In 2010, Egypt registered its highest level of foreign reserves in decades at 35bn. By October 2016, foreign reserves had dropped to 19bn. By December 2016, after the flotation of the Egyptian pound, foreign reserves grew to 24.265bn. According to the CBE governor during a conference hosted by EFG-Hermes, the banking system was able to secure inflows of 7.5-8bn since the flotation.

Source: Daily News Egypt January 15, 2017 06:25 UTC