Last Update 22:53
Monday, 23 September 2019

Egypt foreign reserves jump to $15.1bn in August: CBE

Forex reserves rise by $727mn in August to reach $15.1bn, Central Bank of Egypt reports Sunday; increase coincides with Egypt's receipt of $500mn – out of promised $2bn – from Qatar

Ahram Online, Sunday 2 Sep 2012
File photo: Central Bank of Egypt (Photo:Reuters)
Views: 1191
Views: 1191

Egypt's net international reserves in August rose by $727 million to reach a total of $15.1 billion, the Central Bank of Egypt (CBE) announced on Sunday.

In July, Egypt's national reserves slipped for the first time in three months, falling to $14.4 billion. The CBE at the time attributed the decrease to maturing Egyptian bonds and the payment of debts to the Paris Club totalling some $1.64 billion.

Meanwhile, the CBE has received the first tranche – worth $500 million – of a promised $2 billion deposit from Qatar, Egyptian Finance Minister Momtaz El-Said announced in August.

The outstanding $1.5 billion will be transferred to the CBE in September, said El-Said.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.