CBE: Egypt’s Foreign Reserves Rise to $16.8 billion in August

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Egypt’s foreign reserves recorded a $99 rise to hit $16.835 billion at the end of August from $16.736 billion in July, the central bank announced on Sunday.

Egypt is planning to return a Qatari deposit worth $500 million early in October, which was deposited in the central bank as part of Qatari aid during the rule of Islamist president Mohamed Morsi.
Meanwhile, another deposit worth $2.5 billion will be returned in November.
CBE Governor Hisham Ramez has said earlier Egypt’s foreign reserves in August stayed close to their July level of $16.736 billion.
“The foreign reserves are stable at the same level as the month of July almost,” Ramez said over the phone, without giving a new figure.

The values of Egypt’s foreign reserves held by the Central Bank of Egypt during 2014:

Month

Value (US$ Bln)

January

17.104

February

17,307

March

17.414

April

17.489

May

17.283

June

16.687

July

16.736

August

$16.835

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