BREAKING: Egypt’s Foreign Reserves rise to $20bn in June

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Egypt’s foreign currency reserves climbed to US$20.079 billion in June 2015, up 2.7 percent from US$19.559 billion at the end of May 2015, the central bank announced Tuesday.

The increase in foreign currency reserves is estimated at US$520 million.

The four-year high in May’s foreign reserves comes after Egypt had received US$6 billion in deposits in April from Saudi Arabia, the United Arab Emirates and Kuwait. The three Gulf countries have provided billions of dollars in aid since the Egyptian army overthrew elected Islamist President Mohamed Morsi in mid-2013.

Reserves stood at about $36 billion before the 2011 revolt.

The values of Egypt’s foreign reserves held by the Central Bank of Egypt during 2015:

Month

Value (US$ Bln)

January

15.429

February

15.456

March

15.290

April

20.525

May

19.559

June

20.079

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