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Foreign currency reserve up by $1 billion - Egypt PM Kandil
Arab News Agency Published in Arab News Agency on 30 - 08 - 2012


Egypt PM
Egypt's reserve of foreign currency increased by $1 billion in the Central Bank, Prime Minister Hisham Kandil wrote on his Facebook page on Thursday.
The prime minister did not specify a timeframe.
The foreign currency reserve reached $14.4 billion by the end of last July compared to $15.5 billion last June, Egypt's Central Bank has said.
The reserve was boosted by the first tranche a Qatari financial aid. Qatar had promised to deposit two-billion dollars with the Central Bank, “Hisham Kandil's Official Page” reported the prime minister as saying.
According to a statement for the Minister of Finance Momtaz al-Saeed, the deposit arrived several days ago.
“The rest of the increase was due to the improvement of the economy's status,”Kandil added.

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