CBE: Egypt’s foreign reserves 13% higher in September

Egypt’s net foreign reserves surged 18% to $19.591 billion at the end of September, the central bank of Egypt announced Monday. Reserves stood at $16.564 billion at the end of August.

Egypt had roughly $36 billion in reserves before an uprising in 2011 overthrew Hosni Mubarak. That ushered in a period of political turmoil that scared away tourists and foreign investors, key sources of foreign exchange.

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