Foreign reserves jump to USD42.6bn at end-March: CBE
Central Bank of Egypt (CBE) data showed net international reserves rose marginally in Mar 2018. CBE announced on Monday that reserves had risen to USD42.611bn by the end of March, compared with USD42.524bn in February.
Egypt's foreign exchange reserves were USD36bn before the revolution, before it drained over the past years due to depletion of dollar resources, mainly foreign direct investments and tourism. Last February, Egypt issued USD4bn in euro bonds, which were covered threefold.
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