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Loans from Qatar, Turkey pushed Egypt's foreign reserves up by $300-400m
- Egypt: Tuesday, October 30 - 2012 at 02:49
Egypt's central bank has said foreign reserves probably rose $300-400m in October, thanks to loans from Qatar and Turkey, Reuters has reported. Reserves at the end of October will probably be $15.4bn or $15.5bn, up from $15.04bn at the end of September, a central bank official said. The reserves have fallen by more than half since a popular uprising in January 2011 that scared away tourists and investors, two of Egypt's main sources of foreign currency.
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