Egypt foreign reserves barely changed in Dec

Cairo, January 6, 2013

Egypt foreign reserves edged down to $15.015 billion at end of December from $15.036 billion at the end of November despite a currency crisis, the central bank said on Sunday.

The central bank implemented a new regime for buying ans selling foreign currency of auctions and currency controls last week after saying foreign reserves had fallen to a critical level. It sold $150 million on the final two days of December.

Earlier in December the finance minister said Qatar had deposited a loan of $500 million with Egypt's central bank as budgetary support. – Reuters

Tags: Egypt | Central Bank | Cairo | Foreign reserves |