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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
05 Aug 2024
With the support of BBK, BIBF and BJA hold a graduation ceremony for journalists completing the training program
29 Jul 2024
BBK discloses its financial results for the half year ended 30th June 2024
09 Jun 2024
BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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