Egypt Foreign Reserves up to $16.736 billion at end-July

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Egypt’s foreign reserves registered a $50 rise to hit$16.736 billion at the end of July from $16.687 billion in June, the central bank announced on Thursday.

Reserves fell sharply after a 2011 uprising that ousted President Hosni Mubarak but rose last year when Gulf Arab states gave billions of dollars of aid after the army deposed elected Islamist President Mohamed Morsi.

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 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

 

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