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BREAKING: Egypt foreign reserves up $302 million by end of May, says central bank Figures show foreign currency reserves climbed to $15.52 billion, in their second successive monthly rise
Egypt's foreign reserves climbed $302 million in May to reach $15.52 billion, their second consecutive monthly increase after falling every month in the year following the country's 2011 uprising. Foreign reserves rose from $15.21 billion at the end of April, according to figures from the central bank on Wednesday. Just before the January 2011 uprising that unseated president Hosni Mubarak, the country's foreign reserves sat at around $36 billion. The resultant political turmoil was scared away tourists and investors, two of Egypt's main sources of foreign currency.