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Egypt’s foreign reserves at their highest since late 2011

by ChemOrbis Editorial Team -
  • 07/05/2015 (18:19)
According to local media sources, Egypt’s foreign reserves climbed to 20.5 billion dollars at the end of April 2015 when compared with 15.29 billion dollars during March. Sources attributed the increase in foreign reserves to the recent arrival of 6 billion dollars in deposits from Saudi Arabia, Kuwait and the UAE.

Egypt’s foreign reserves last surpassed the $20 billion threshold in December 2011. Before the uprising that ousted former president Hosni Mubarak, the country’s reserves had stood as high as 35.01 billion dollars in January 2011.
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