Egypt’s foreign reserves registered a $38 surge to hit $16.909 billion at the end of October from $16.871 billion in September, the central bank announced on Thursday. This signals the fourth consecutive month that the country’s foreign reserves witnessed a rise.
Last October, Egypt repaid a Qatari deposit worth $500 million, which was deposited in the central bank as part of Qatari aid during the rule of Islamist president Mohamed Morsi.
Meanwhile, another deposit worth $2.5 billion will be returned within the current November.
The values of Egypt’s foreign reserves held by the Central Bank of Egypt during 2014:
|
Month |
Value (US$ Bln) |
|
January |
17.104 |
|
February |
17,307 |
|
March |
17.414 |
|
April |
17.489 |
|
May |
17.283 |
|
June |
16.687 |
|
July |
16.736 |
|
August |
$16.835 |
|
September |
$16.871 |
|
October |
$16.909 |
