Egypt’s Foreign Reserves Rise $38mn in October – CBE

Egypt’s foreign reserves registered a $38 surge to hit $16.909 billion at the end of October from $16.871 billion in September, the central bank announced on Thursday. This signals the fourth consecutive month that the country’s foreign reserves witnessed a rise.

Last October, Egypt repaid a Qatari deposit worth $500 million, 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 within the current November.

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