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Tuesday, 15 October 2019

Central Bank of Egypt: Foreign reserves rise to $44.5 bln in October

MENA , Monday 5 Nov 2018
Central Bank of Egypt
File Photo: Central Bank of Egypt sailed well through the Financial Crisis. (Photo: Reuters)
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Egypt’s foreign currency reserves spiked by $42 million to reach $44.501 billion in October against $44.459 billion in September, the Central Bank of Egypt (CBE) announced on Monday.

Reserves have been climbing since Egypt agreed a $12 billion three-year loan programme with the International Monetary Fund in late 2016, part of efforts to attract foreign investors and revive the economy.

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