Foreign reserves slightly up in December

GMT 14:07 2016 Tuesday ,05 January

Arab Today, arab today Foreign reserves slightly up in December

Central bank Egypt
Cairo - MENA

The Central Bank of Egypt (CBE) said Tuesday the country's foreign currency reserves were up by $23 million in December.

Forex reserves hit $16.445 billion at the end of December against $16.422 billion in November, the CBE said in a press statement.

Egypt's net foreign reserves have plunged more than half the volume since the 2011 revolution, which scared off tourists and investors – both considered main sources of foreign currency for Egypt. In January 2011, Egypt's net reserves stood at some $36 billion.


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