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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Egypt foreign reserves soar to $15.5bln

Posted on 30 October 2012

Egypt’s foreign reserves probably rose $300-400 million in October thanks to loans from Qatar and Turkey, state-run al-Gomhuria newspaper reported on Monday, quoting an unnamed central bank official.
The reserves have fallen by more than half since a popular uprising in January 2011 that scared away tourists and investors, two of Egypt’s main sources of foreign currency. Reserves at the end of October will probably be $15.4 billion or $15.5 billion, up from $15.04 billion at the end of September, al-Gomhuria said………………………………………..Full Article: Source


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