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FinancialNews
05-03-19
Egypt surges to USD44.06b in Feb foreign reserves
(MENAFN) Egypt recorded a jump in its foreign reserves for February from the USD42.6 billion seen in January, standing at USD44.06 billion.
It comes after a drop Egypt registered in December 2018 in its foreign currency reserves, reaching USD42.551 billion to mark the first decline since November 2016.
Based on official data, Egypt kept on experiencing boosts in its foreign currency reserves ever since 2014 following an economic recession.
Such jumps have been attributed to better security situation, growing remittances of Egyptian overseas spending, and increased foreign loans and deposits.
MENAFN0503201900450000ID1098206707
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