Egypt’s foreign currency reserves jump to levels unseen since 2011

CAIRO — Egypt’s foreign currency reserves rose to US$31.12 billion by the end of May 2017, according to data posted on the Central Bank of Egypt’s website.

The announced reserves are the highest since 2011.

The removal of currency restrictions late last year and the International Monetary Fund’s loan deal that followed have allowed Egypt to strengthen its net international reserves.

Source: Emirates News Agency