Egypt’s Foreign Reserves Slightly Rise to US$18.91 Mln in August

Egypt’s foreign cash reserves have reported a slight rise of US$ 34 million to reach US$ 18.916 billion by the end of August, against US$ 18.882 billion last June.

Last July, Egypt’s Foreign Reserves recorded it highest rise as they hit US$ 18.8 billion, compared to US$ 14.9 billion last June.

In August, Egypt has witnessed political turmoil following the bloody dispersing the main camps of the deposed president Mohamed Morsi’s supporters in Rabaa Al-Adaweya and Nahda squares.

The country’s reserves were boosted amid receiving grants and aids worth US$ 12 billion from the gulf states following the ouster of President Mohamed Morsi.

The values of Egypt’s net foreign reserves held by the Central Bank of Egypt during the last two years are as follows: