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Central Bank of Egypt report shows significant spike in foreign reserves
Created: Nov 25, 2010,
modified: Jan 13, 2012,
overall rating: 0.000
A monthly Central Bank of Egypt (CBE) report released on Wednesday reveals a recent spike in the country’s net foreign exchange reserves to US$35.54 billion at the end of this October. The reserve total is up from US$35.22 billion in June, an increase of more than US$3 million.
Total CBE investments in the last fiscal year reached LE224.4 billion according to the report, representing nearly a 14 percent spike.
The report also highlights an increase in domestic liquidity by 1.9 percent to LE935.2 billion. That figure was registered at the end of August.
Al Masry Al Youm
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