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03/08/2017 07:17 AST
Egypt's foreign reserves reached $36.036 billion at the end of July, returning to pre-2011 levels for the first time since the 25th January uprising, the Central Bank of Egypt (CBE) announced on Tuesday.
Foreign net reserves jumped from $31.305 billion at the end of June to hit the $36-billion mark, with international net reserves increasing $4.7 billion in July alone, reported Wam, the Emirates official news agency, citing CBE data.
According to Ahram Online, the CBE's statement comes nearly one week after Egypt's President Abdel-Fattah el-Sisi said the country's foreign reserves were nearing $35 billion.
The reserves have been climbing since Egypt signed an agreement for a three-year $12 billion loan from the International Monetary Fund.
Reserves have increased from $28.641 billion at the end of April to $31.125 billion by the end of May.
Trade Arabia
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
US Dollar | 1.00 |
Saudi Riyal | 3.75 |
Derham Emirati | 3.67 |
Qatari Riyal | 3.65 |
Kuwaiti Dinar | 0.30 |
Bahraini Dinar | 0.38 |
Omani Riyal | 0.39 |
Euro | 0.81 |
British Pound | 0.71 |
Japanese Yen | 104.70 |
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