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FINANCIAL NEWS
Egypt’s forex reserves rise 7.9% in August
05 Oct 2010
(MENAFN) The net international reserves of the Central Bank of Egypt (CBE) have increased last August by 7.9 percent to hit $35.5 billion compared to the same month last year, QNA reported.
The report by the Cabinet’s Information and Decision Support Center (IDSC) referred to a hike in the volume of deposits in the banking system, apart from CBE, last July with an increase of 9.6 percent compared to the same month last year.
The report also drew attention to a hike in the Suez canal revenues last August by 17.9 percent to hit $438.4 million compared to August 2009.
It added that deficit in the trade balance receded by 1.7 percent last June to hit $1.7 billion against $1.73 billion last June, when it increased by 27.5 percent compared with the same month last year.
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