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Egypt's foreign reserves hit USD42.5bln in Feb
(MENAFN) On Sunday, the Central Bank of Egypt (CBE) said that the volume of foreign reserves reached USD42.5 billion in February, compared to USD38.2 billion in January 2018, recording an increase of USD4.3 billion.
According to a statement by the CBE in February, foreign currency reserves rose by USD1.2 billion to USD38.209 billion by the end of January.
The cash reserve scored USD37.019 billion at the end of December 2017.
Egypt's foreign reserves have been rising since the country secured a USD12 billion, three-year, International Monetary Fund loan program in November 2016, shortly after the country decided to float its currency in a bid to lure back foreign investors and revive its ailing economy.
MENAFN0503201800450000ID1096544798
According to a statement by the CBE in February, foreign currency reserves rose by USD1.2 billion to USD38.209 billion by the end of January.
The cash reserve scored USD37.019 billion at the end of December 2017.
Egypt's foreign reserves have been rising since the country secured a USD12 billion, three-year, International Monetary Fund loan program in November 2016, shortly after the country decided to float its currency in a bid to lure back foreign investors and revive its ailing economy.
MENAFN0503201800450000ID1096544798
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