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Central Bank: Egypt foreign reserves rise 0.43% to reach $17.45 bn

Egypt's net international reserves rose by 0.43 percent to reach $17.489 billion by the end of April, the Central Bank of Egypt (CBE) announced Wednesday.
 
Egypt's foreign currency reserves had picked up in March to reach $17.414 billion by the end of the month.
 
Aid packages to Egypt from a number of Arab Gulf countries Arab Gulf states to support net international reserves, after the ouster of former president Mohamed Morsy on 3 July 2013.
 
Egypt's foreign currency reserves rose by $2.6 billion, or 17.1 percent, since the end of June 2013.
 
Presidential candidate and former army chief Abdel-Fattah al-Sisi said financial assistance from Saudi Arabia and Gulf states since 30 June exceeds US$20 billion .
 
Egypt's net international reserves have fallen by more than half since the popular uprising in early 2011, which scared off tourists and investors – both considered main sources of foreign currency for Egypt. In January 2011, Egypt's net reserves stood at some $36 billion. 
 

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