(MENAFN)Egypt’s foreign exchange reserves improved for the eighth month in spite of huge effect on the economic sector due to the second wave of the Coronavirus pandemic.
The country’s foreign exchange reserves increased to USD40.101 billion in January 2020, increased from USD40.063 billion at the end of December 2020, according to the Central Bank of Egypt (CBE).
Egypt’s foreign exchange reserves started to meet in June 2020 after the pandemic managed to declines amid March and May, with a USD9.4 billion loss in three months.
Remittances from Egyptians working abroad increased in 2020.
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