Egypt says foreign reserves at $17.52 billion at end of May

Reuters , Thursday 2 Jun 2016

The Central Bank of Egypt
The Central Bank of Egypt's headquarters in downtown Cairo (Photo: Reuters)

 Egypt's net foreign reserves rose to $17.52 billion at the end of May, the central bank said on Wednesday. Reserves stood at $17.011 billion at the end of April.

Egypt had roughly $36 billion in reserves before an uprising in 2011 overthrew Hosni Mubarak. That ushered in a period of political turmoil that scared away tourists and foreign investors, key sources of foreign exchange.

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