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Egypt's foreign reserves inch up to $15.4 billion in January

Ahram Online , Thursday 5 Feb 2015
Egypt's central bank (Photo: Reuters)

Egypt's foreign currency reserves rose to $15.4 billion at the end of January, the Central Bank of Egypt (CBE) announced on Thursday.

The country's foreign reserves, which fell sharply from $36 billion following the January 2011 uprising that toppled president Hosni Mubarak, were boosted by billions of dollars in aid from the Gulf since his successor Islamist Mohamed Morsi was ousted in June 2013.

Reserves dropped by $1 billion in November to $15.9 billion, when Egypt returned a $2.5 billion deposit in November, made by neighbouring Qatar during Morsi's year in power and received a $1 billion grant from Kuwait.  

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