Egypt's foreign reserves rise to $36.535 billion at end September

Ahram Online , Monday 2 Oct 2017

Foreign reserves
File Photo: Egypt's foreign reserves edged up to $36.535 billion at the end of September (Photo: Reuters)

Egypt's foreign reserves registered $36.535 billion at the end of September 2017, continuing the surge over the past few months, the Central Bank of Egypt (CBE) announced on Monday.

At the end of August, reserves hit $36.143 billion from $36.036 billion at the end of July.

The end-of-July figure reached pre-2011 levels for the first time since the 25 January uprising, with international net reserves increasing $4.7 billion in July alone.

Reserves have been climbing since Egypt signed an agreement for a three-year $12 billion loan from the International Monetary Fund in November 2017, shortly following its flotation of its currency.

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