REUTERS - Egypt's foreign reserves rise slightly to $16.445 bln in December

Tuesday 05-01-2016 09:23 AM
REUTERS - Egypt's foreign reserves rise slightly to $16.445 bln in December

Central Bank of Egypt -Reuters

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CAIRO, Jan 4 (Reuters) - Egypt's foreign currency reserves rose to $16.445 billion at the end of December from $16.422 billion the previous month, the central bank said on Monday.

Egypt's foreign reserves stood at about $36 billion before the 2011 revolt which overthrew Hosni Mubarak but have dwindled since the uprising scared off tourists and foreign investors, key sources of foreign exchange.

Bankers have been watching out for a dip in reserves after the central bank pumped additional dollar liquidity into the banking sector in recent weeks to ease a forex crisis.

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