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FINANCIAL NEWS
Egypt’s foreign reserves drop to USD15.53bn
08 Aug 2016
(MENAFN) Egyptian foreign reserves dropped to reach USD15.54bn at the end of July, while it stood at USD17.5bn at the end of June.
Furthermore, the country had USD36bn in reserves before an uprising in 2011 over Hosni Mubarak.
However, foreign currency reserves in July were weak, as Egypt returned an USD1bn deposit to Qatar and paid USD720mn in fees to the Paris Club.
In addition, the country devalued the pound by 13 percent in March, in order to close the gap between the official and parallel rates.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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