Egypt's foreign cash reserves fell by US$ 207 million by the end of last September to US$ 18.709 billion, against US$ 18.916 registered by the end of last August, the central bank (CBE) said on Thursday. This comes after Egypt's foreign cash reserves had reported a slight rise of US$ 34 million to reach US$ 18.916 billion by the end of last August, against US$ 18.882 billion by end of last June. Last July, Egypt's Foreign Reserves recorded their highest rise as they hit US$ 18.8 billion, compared to US$ 14.9 billion by end of last June. On September 19th, Central Bank Governor Hisham Ramez said Egypt would return to Qatar US$ 2 billion that the Gulf state had deposited with the North African central bank after negotiations to convert the funds into three-year bonds broke down. Qatar had sent Egypt $3 billion in May, of which it converted $1 billion into three-year bonds. Ramez said the Qatari authorities had agreed the week before last to convert the entire remaining $2 billion but then changed their minds. "So we just repaid the deposit," he said. The values of Egypt's net foreign reserves held by the Central Bank of Egypt during the last two years are as follows: Month Value (US$ 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 June 2013 14.921 July 2013 18.88 August 2013 18.916 September 2013 18.709
