International reserve at US$16,455 in December: CBE

Egypt’s net international reserves stood at US$16,455 in December, the Central Bank of Egypt said on Tuesday.
The current reserve is a slight surge from US$16,422 in November.
Egypt has suffered from a drain in foreign currency reserves as two popular uprisings have toppled two governments since 2011 and impacted foreign investments and tourism, both major sources of foreign currency. Egypt has found a lifeline in tens of billions of dollar loans and deposits from Gulf countries.
In April, Egypt received deposits worth US$6 billion from Saudi Arabia, United Arab Emirates and Kuwait.

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