Gulf Aid Boosts Egypt’s Reserves To $19Bn
Egypt’s foreign exchange reserves soared to $18.9bn at the end of July from $14.9bn at the end of June, the Central Bank of Egypt (CBE) announced on 5 August.
The latest figure is the highest since November 2011, and reflects the emergency aid from the Gulf Arab states, following the ousting of former Egyptian president Muhammad Mursi in early July.
Egypt’s reserves before the January 2011...