Egypt Independent

Egypt foreign reserves rise to $16.564 bln end-august: CBE



Egypt's net foreign reserves rose to US$16.564 billion at the end of August, the Central Bank of Egypt (CBE) said on Sunday.

Reserves stood at $15.536 billion at the end of July.

 
Egypt had roughly $36 billion in reserves before an uprising in 2011 overthrew Hosni Mubarak.

That ushered in a period of political turmoil that scared away tourists and foreign investors, key sources of foreign exchange.