Egypt’s foreign reserves down to USD16.334 in September

08 Oct 2015

(MENAFN) According to Egypt’s Central Bank (CBE), Egypt’s foreign reserves declined by USD1.76 billion in value last month, reaching USD16.334 billion compared to USD18.096 billion in August.

The decline is the third consecutively in foreign currency levels, as the international reserves went down from USD20.08 billion in June to USD18.5 billion in July, to reach their lowest level in September.

International foreign reserves have recorded their highest level this year in April, when they registered USD20.525 billion. The current foreign reserves cover Egypt’s commodity imports for 3.3 months.

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