Foreign cash reserve rises by $36 million

Net foreign reserves at the Central Bank of Egypt went up by $36 million, reaching $18.916 billion at the end of August, the bank's website reported.
that figure compares with $18.88 billion at the end of July, the site added.
The central bank has issued a $1.3 billion exceptional tender on Wednesday, the largest of its kind since the start of the dollar bidding mechanism last December. The initiative aims to meet the financial needs of banks on the market to import commodities and strategic goods.
Edited translation from Al-Masry Al-Youm 

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