CAIRO, July 5 ,2018 (MENA) – Egypt's foreign currency reserves spiked by USD 120 million to reach USD 44.258 billion at the end of June, the Central Bank of Egypt (CBE) announced on Thursday. The nation's foreign currency reserves have been climbing for 32 months in a row, the CBE said. The rise in the country's foreign reserves was driven by the CBE's good management of the monetary policies, with a commitment to settle all external obligations, bankers told MENA. Egypt received on Friday the fourth tranche, valued at $two million, of a total $12 billion loan from the International Monetary Fund.
