| Kippreport.com

Egypt’s foreign reserves climb by $18 million in June

July 9, 2012 10:45 by Reuters

Egypt’s foreign reserves rose by $18 million in June to $15.53 billion, their third month of increases after having dropped every month since the uprising that ousted Hosni Mubarak in February 2011, the central bank said on its website on Sunday.

Reserves were $15.52 billion at the end of May and $26.57 billion at the end of June 2011. They have plunged by more than half since Egypt’s political turmoil scared away tourists and investors, two of Egypt’s main sources of foreign currency.

(Reporting by Patrick Werr)

 

Tags: Banking & Finance, Egypt, Egypt's political turmoil, foreign reserves