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FINANCIAL NEWS
Egypt’s foreign reserves down to USD15.71b in Feb
05 Mar 2012
(MENAFN) Egypt’s Central Bank said that the country’s net foreign reserves at the end of February fell to USD15.71 billion, from USD16.35 billion in the previous month, reported AP.
The bank added that even though the amount dropped last month, however, the decline was less than any month since the uprising.
It also said that in February, USD640 million flowed out of Egypt.
It is worth noting that by the end of December 2011, Egypt’s net foreign reserves plunged 50 percent year-on-year.
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