Central Bank of Egypt: Foreign reserves rise to 44.258 billion dollars by the end of June

Media In – Cairo, June 5, 2018

The Central Bank of Egypt (CBE) announced Thursday that foreign exchange reserves rose to 44.258 billion dollars at the end of June from 44.139 billion dollars in May. This is the highest level of Egypt’s foreign exchange reserve since the start of the reserve data recording in the early 1990s, and thus the reserves rose by $ 119 million in June. Egypt’s reserves were about $ 19 billion, before it signed a 12-billion-dollar loan agreement with the International Monetary Fund in 2016, liberalizing the local currency exchange rate and lifting the capital restrictions that were imposed to attract investors.