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FINANCIAL NEWS
Egypt’s foreign currency reserve declines in November
08 Dec 2014
(MENAFN) Egypt Central Bank announced that the country’s foreign currency reserves declined by USD1.027 billion last November compared to the corresponding period last year, KUNA reported.
Egypt'[s Central Bank added that the amount of foreign currency reserves has reached USD15.88 billion in November, declining from USD 16.909 billion which was registered in October.
Central Bank said that the decline in foreign reserves happened after Egypt returning a Qatari deposit totaling USD 2.5 billion in November, though the bank maintained that the effects of such move on the foreign currency reserves was minimum.
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