Egypt foreign reserves fall $1.77 bln in January

CAIRO: Egypt’s net foreign reserves fell by $1.77 billion in January, the central bank said on its website on Tuesday.

Reserves were $16.35 billion at the end of January, down from $18.12 billion at the end of December.

In January 2011, before the uprising that ousted president Hosni Mubarak, Egypt’s reserves totaled $ 35.01 billion.