Egypt c.bank says net foreign reserves slightly rose to $40.343 billion by April-end

Egypt’s net foreign reserves slightly rose to $40.343 billion at the end of April from $40.337 billion at the end of March, a central bank data showed on Wednesday.

Foreign reserves had made a significant comeback in December, increasing by almost $800 million to their highest level since April.

The reserves stockpile had decreased by around $10 billion between March and May 2020 when the central bank interfered to cover portfolio outflows, meet debt repayments, and pay for commodity imports during the global selloff of emerging market assets prompted by the coronavirus pandemic.