Egypt’s Foreign Reserves Rose US$ 1 Bln In April On Libyan Deposit

Egypt’s foreign reserves surged about US$ one billion to reach US$ 14.4 billion at the end of last April, compared to US$ 13.4 billion at the end of last March, thanks to the US$ 2 billion Libyan funds deposited in the Central Bank of Egypt last month for five years without an interest.

International reserves registered the first hike during the last six months when the reserves surged to EGP 14.483 billion and then plunged to US$ 13.424 billion at the end of last March.

Hisham Ramez, Governor of CBE, had earlier announced that the county’s foreign reserves are expected to increase after receiving the Libyan deposit.

The values of international reserves held by the Central bank of Egypt over the last two years are as follows:

Month

Value In US$ Bln

December 2010

36.005

January 2011

35.007

February 2011

33.321

March 2011

30.106

April 2011

28.024

May 2011

27.228

June 2011

26.564

July 2011

25.706

August 2011

25.008

September 2011

24.009

October 2011

22.071

November 2011

20.1

December 2011

18.119

January 2012

16.3

February 2012

15.7

March 2012

15.1

April 2012

15.2

May 2012

15.515

June 2012

15.533

July 2012

14.442

August 2012

15.127

September 2012

15.042

October 2012

15.483

November 2012

15.035

December 2012

15.014

January 2013

13.613

February 2013

13.508

March 2013

13.424

April 2013

14.4264