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: