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Elham AbolFateh

Egypt

Egypt foreign reserves reach unprecedented levels since 2011

Sunday 04/June/2017 - 11:09 PM
Sada El Balad
Egypt's foreign currency reserves rose to US$31.12 billion by the end of May 2017، according to data posted on the Central Bank of Egypt's website.

The announced reserves are the highest since 2011.

The removal of currency restrictions late last year and the International Monetary Fund's loan deal that followed have allowed Egypt to strengthen its net international reserves.


Edited by Ahmed Mohsen

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