Egyptian foreign reserves records USD15.45b in February

12 Mar 2015

(MENAFN) Egypt’s foreign reserves registered USD15.45 billion in February, up from USD15.42 billion in January, the Central Bank of Egypt (CBE) announced, Daily News Egypt reported.

International reserves have been revolving around the same value for several months now as it was recorded at USD15.3 billion in December, down from USD15.8 billion in November.

According to CBE governor, the stability of foreign currency comes in a time when the selling of US dollars through banks have increased. The governor increased the number of dollar bids since December in a move that led to the depreciation of the Egyptian pound against dollar.

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