Egypt's foreign reserves at $15.456 bln at end of February - central bank

Tuesday 03-03-2015 04:40 PM
Egypt's foreign reserves at $15.456 bln at end of February - central bank

A man walks past a currency exchange office in Cairo - Reuters/Mohamed AbdelGhany

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CAIRO, Mar 3 (Aswat Masriya) - Egypt's foreign reserves rose by $27 million during the month of February, standing at $15.456 billion, the central bank announced on Tuesday.

The country's foreign reserves at the end of January were at $15.429 billion, also an increase from the $15.33 billion mark of the the previous month. 

Egypt's economy has been badly affected by the political turmoil which gripped the country since a popular uprising toppled former President Hosni Mubarak in January 2011. The political situation has taken its toll on the foreign reserves, which stood at almost $36 billion before 2011.

Egypt had repaid Qatar a central bank deposit worth $2.5 billion last November, granted during the tenure of ousted Islamist President Mohamed Mursi.

Foreign reserves were at $16.909 billion at the end of October 2014. They dropped to $15.88 billion at the end of November, impacted by repaying the deposit to Qatar.

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