Egypt’s Foreign Reserves Rose US$ 700 Mln On Qatari Deposit
Egypt’s foreign cash reserves rose by US$ 700 million, registering US$ 15.1 billion in August, up from US$ 14.4 billion in July.
A number of banking experts said such increase came after Qatar deposited US$ 500 million in the Central Bank of Egypt (CBE) out of $2 billion that it pledged to deposit. In addition, Egypt paid the bonds dues that it earlier issued and the first debt repayment amounting to US$ 1.64 billion that it owed to Paris Club last July.
The value of Egypt’s net foreign reserves since the revolution is as follows:
|
Month |
Net Foreign Reserves (value in EGP billion) |
|
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 |
15.7 |
|
March |
15.1 |
|
April |
15.2 |
|
May |
15.5 |
|
June |
15.5 |
|
July |
14.442 |
|
August |
15.12 |