The Central Bank of Egypt (CBE) disclosed that Egypt's foreign exchange reserves rose by 106 million dollars at the end of April, revealing that the country's foreign exchange reserves stood at 44.218 billion dollars at the end of April, compared with 44.112 billion dollars at the end of March. (March) by an increase of about 0.24 percent.
Egypt's foreign exchange reserves rose from 42.61 billion dollars at the end of January to 44.06 billion dollars at the end of February.
The rise in Egypt's foreign exchange reserves is due to the increased remittances of Egyptians working abroad, with the Suez Canal revenues improving since the beginning of this year, in addition to a large increase in the tourism revenues.
Egypt's foreign exchange reserves stood at about $36 billion before the January 2011 revolution, and before it starts to decline in the years following the revolution due to a drop in the foreign direct investment and a decline in tourism revenues to a record low of $13 billion in 2013.
Source: (Al-Arabiya.net, Edited)
