Egypt's net foreign reserves increased to US$16.872 billion at the end of September of 2014 from to $6.836 billion in August, the Central Bank of Egypt (CBE) announced on Wednesday .
Net foreign reserves of the country will be affected, as a result of response deposits to Qatar during the months of October and November, according to analysts.
"We will return $500 million to Qatar in October and $2.5 billion in November for the bonds, the governor of Egypt's central bank Hisham Ramez said.
Foreign Exchange Reserves in Egypt averaged $23.7 billion from 2003 until 2014, reaching an all time high of $36 billion in December of 2010 before the revolution of January 2011, and a record low of $13.4 billion in March of 2013 In the era of former President Mohamed Morsy.
In Egypt, foreign exchange reserves are the foreign assets held or controlled by the country's central bank. The reserves are made of gold or a specific currency.
