Egypt's Foreign Reserves have recorded a remarkable rise of US$ 1.613 billion to reach US$ 16.03 billion by the end of June against US$ 14.4 billion last April, reporting its highest levels since the outbreak of January 25th revolution. A number of banking experts said the increase was backed by the Egyptian authorities' settlement with a number of prominent businessmen, notably with Orascom Construction Industries S.A.E. – OCI (OCIC.CA) which worth EGP 7.1 billion as payable tax. Oracsom has already paid to the Government US$ 350 million as the first payment. Furthermore, the increase was after the Government received a US$ 3 billion aid from Qatar. It is worth mentioning that in last April, Egypt's foreign cash reserves also recorded a rise of US$ one billion, representing the second successive growth Egypt witnesses during Hisham Ramez's rule as the CBE's Governor, as he hold the office last February. Month Value (US$ Bln) December 2010 36.005 January 2011 35.007 February 2011 33.321 March2011 30.106 April 2011 28.024 May2011 27.228 June2011 26.564 July2011 25.706 August 2011 25.008 September 2011 24.009 October2011 22.071 November 2011 20.1 December 2011 18.119 January 2012 16.3 February 2012 15.7 March 2012 15.1 April 2012 15.2 May2012 15.515 June 2012 15.533 July2012 14.442 August 2012 15.127 September 2012 15.042 October 2012 15.483 November 2012 15.035 December 2012 15.014 January 2013 13.613 February2013 13.508 March 2013 13.424 April 2013 14.4264 May 2013 16.039
