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FINANCIAL NEWS
Egypt’s foreign reserves increases to USD20b last month
08 Jul 2015
(MENAFN) Egypt’s foreign reserves increased to USD20.079 billion last month, marking a 2.7 percent rise from the USD19.559 billion registered back in May, according to the country’s central bank, Amwal Alghad reported.
The USD520 million increase is attributable to the USD6 billion aid deposits the country received from Saudi Arabia, the United Arab Emirates and Kuwait. The aid was provided since the ousting of the former Egyptian president back in 2013.
Reserves stood at about USD36 billion before the 2011 revolt.
The values of Egypt’s foreign reserves held by the Central Bank of Egypt in the first four months of the year are USD15.429 billion, USD 15.456 billion, USD15.29 billion, and USD20.525 billion in order.
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