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Egypt’s foreign reserves drop to $16.335bn at end-September

by Yomna Yasser

Egypt’s foreign currency reserves edged lower to US$16.335 billion at the end of September from $18.096 billion the previous month, the central bank announced Wednesday.

Saudi Arabia, the United Arab Emirates and Kuwait have provided billions of dollars in aid since the army overthrew elected Islamist President Mohamed Morsi in mid-2013.

Reserves stood at about US$36 billion before the 2011 revolt.

The values of Egypt’s foreign reserves held by the Central Bank of Egypt during 2015:

Month

Value (US$ Bln)

January

15.429

February

15.456

March

15.290

April

20.525

May

19.559

June

20.079

July

18.534

August

18.096

September

16.335

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