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FINANCIAL NEWS
Egypt foreign reserves increase by USD3.9 in July
07 Aug 2013
(MENAFN) According to the Central Bank of Egypt (CBE), net international reserves (NIR) in Egypt in the month of July reaching a total USD18.8 billion.
Egypt’s foreign reserves were at USD14.9 billion in June, but after receiving Arab aid following the ousting of President Mohamed Morsi, NIR in Egypt increased by USD3.9 billion in July.
During the month of July, Egypt received USD5 billion in aid money from Saudi Arabia and UAE. The USD5 billion aid payment comes as a part of a USD12 billion pledged by the two Gulf nations.
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