The Central Bank of Egypt (CBE) reported the net foreign reserves at $44.06 billion at the end of February, up from a previous month of $42.616 billion in January.
Egypt's net international reserves rose by $ 5.53 billion, on a year-on-year basis, representing an increase of more than 14.9% by the end of 2018. CBE’s data showed that the net foreign reserves rose to $42.55 billion by the end of December 2018, compared to $37.02 billion during the same period of the year 2017.
Noting that prior to 2011, Egypt's foreign exchange reserves were about $36 billion, but it was depleted during the years following the revolution due to the reduction of dollar resources, mainly the foreign direct investment and the decline of Egypt's revenues from the tourism sector.
Source: (Al-Arabiya.net, Edited)
