Monetary Reserves Drop Reaching $ 14.4 bn at End of JulySource: www.export-egypt.com 8/8/2012, Location: Africa |
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The Central Bank of Egypt (CBE) said that monetary reserves dropped once again by $1.1 billion to reach $ 14.4 billion at the end of July. This was 7% less than in June when reserves were recorded at $ 15.533 billion. The CBE blamed this on Egypt's redeeming due treasury bills and paying debt installments to Paris Club nations which amount to $ 1.64 billion.
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