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

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