An interest rate cut on the horizon?    Cool weather in Egypt to last into next week    German DEA acquires new concession for exploration in East Damanhour    Egypt's unemployment rate decreases to 8.9% during Q4 2018: CAPMAS    Al-Sisi heads to Germany to partake in MSC    CBE cuts interest rates by 1%    Egypt's police foil bomb attack in Giza: Ministry    Pompeo meets EU's top diplomat after Pence's Iran accusations    'Decide what you want to do over Brexit, and hurry up!': French minister    Manchester United shrug off costly Mourinho sacking    Arsenal 'deserved to win' at BATE, says Emery    Tennis: Halep sets up Doha semi-final showdown with Svitolina    Drones temporarily ground all Dubai Airport flights    Egypt's Parliament approves constitutional amendments with 485 votes    AUC: 100 years young    Egypt's central bank cuts overnight lending, deposit rates    Homegrown solutions for Africa    Remembering popular Arab romance stories on Valentine's Day    Zamalek clashes with NA Hussein Dey in CAF Confederation Cup    With 184 points, Real Madrid named as world's biggest club    Op-ed review: Africa, constitutional amendments    Parliament likely to approve in principle constitutional amendments on Thursday    Prosecutor General bans websites broadcasting sexual content    AUC launches campaign to collect $100m    Climate change could have economic opportunity for Arctic nations    Trump's withdrawal from Syria in favour of Iran, Israel: Experts    Interview: Sons of Denmark, what will happen if fascists take over    Egypt to start building museum in Mohamed Salah's honour next week    Ismaili are back    All alone    Wall or no wall, yet    Darker shadows of death in Yemen    An interest rate cut on the horizon?    Egypt-Africa: More agreements than trade    Restructuring the public sector    Newsreel    Joining the space race    Reporting on change    A contextual history    All hands on deck    Open-air museum at Dendera    Colossus to be restored    Egypt's tale of Africa    In the prince's service    Fake news on CIBF    Researchers discover how sleep helps the body fight germs    In the prince's service    FACTBOX: List of winners in top Grammy Award categories    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Egypt foreign reserves declining
Published in Youm7 on 27 - 08 - 2011

The total reserves of the foreign exchange in the Central Bank of Egypt declined from U.S. $33.3 billion last February to U.S. $25.7 billion in July. The reserves cover 6.2 months of Egypt's imports of goods, according to a new report.
The report stated the foreign exchange covered 8 months since February and 7.3 months since March.
The decline of the number of months covered of reserves to 6 months puts the bank at risk, according to a prominent principal at CBE.


Clic here to read the story from its source.