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Egypt's Foreign Reserves Retreat to $15.88bn at November-end
Ahmed Ali Published in Amwal Al Ghad on 08 - 12 - 2014

Egypt's foreign currency reserves dropped to $15.88 billion at the end of November from $16.91 billion a month earlier, the central bank said on Sunday, the first decline in six months.
Foreign reserves fell sharply after the 2011 uprising that ousted President Hosni Mubarak but had risen again on the back of billions of dollars of Gulf Arab aid that has flooded into Egypt since the army overthrew elected Islamist President Mohamed Morsi last year.
In November, Egypt repaid to Qatar a $2.5 billion central bank deposit received under Morsi, which some traders had warned could have an impact on reserve levels.
Reserves stood at about $36 billion before the 2011 revolt.
The values of Egypt's foreign reserves held by the Central Bank of Egypt during 2014:
Month
Value (US$ 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
November
$15.88

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