Egypt’s Foreign Reserves record first fall in 2015, hit $15.29 billion in March

Egypt’s foreign currency reserves inched down to US$15.29 billion at end of March from US $15.456 billion the previous month, the central bank announced on Tuesday. This is the first decline in the country’s foreign reserves throughout 2015.

Foreign reserves had fallen sharply following the 2011 uprising but are expected to increase in April as Egypt expects to receive at least US$3 billion in deposits from Gulf Arab countries which pledged aid during an investment conference in March.

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

 

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