The Central Bank of Egypt has announced on Sunday that Egypt’s international reserves reached $26.363bn in January, marking an increase of almost $2.1bn from December 2016’s value of $24.265bn.
Since 2011, Egypt’s foreign currency reserves have been constantly drained at unsustainable rates to prevent currency devaluation. By October 2016, foreign reserves had dropped to $19bn from the highest level of foreign reserves registered at $35bn in 2010.
