BREAKING: Egypt’s Foreign Reserves Fall to $17.284 bln at end-May
Egypt’s foreign reserves fell by US$206 million to US$17.284 billion at the end of May from US$17.489 billion in April, the central bank announced on Thursday.
Reserves fell sharply after a 2011 uprising that ousted President Hosni Mubarak but were lifted last year when Gulf Arab states gave billions of dollars in aid to Egypt after the army deposed elected Islamist President Mohamed Morsi following protests against his rule.
The values of Egypt’s foreign reserves held by the Central Bank of Egypt during 2014:
|
Month |
Value (US$ Bln) |
|
January 2014 |
17.104 |
|
February 2014 |
17,307 |
|
March 2014 |
17.414 |
|
April 2014 |
17.489 |
|
May 2014 |
17.284 |
