The foreign reserve of the Central Bank fell to 37 billion dollars by the end of last April

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The Central Bank of Egypt announced that its foreign exchange reserves balance at the end of April 2020 reached about 37.037 billion US dollars, compared to 40.108 billion dollars at the end of March 2020.

The bank said in a statement today, the repercussions of the emerging Corona virus on the global markets have continued for the second month in a row, after which the exits of foreign financial funds from emerging markets as well as the Egyptian markets continued in April 2020, albeit at a lower rate than the previous month that witnessed the peak of exodus Investment portfolios.

The statement added: “In light of the role of the Central Bank of Egypt in maintaining the stability of the Egyptian markets and in light of the globally turbulent economic conditions, the Central Bank of Egypt in April 2020 used about $ 3.1 billion in international monetary reserves to cover the Egyptian market’s needs for foreign exchange to ensure the import of goods The strategy, in addition to paying international obligations related to the state’s external debt, is estimated at $ 1.6 billion, which includes the entitlement of international bonds in the amount of one billion dollars, as well as the exit of some investors through the central banks ’mechanism for transferring the investors money. Side. “

The foreign reserve of the Central Bank fell to 37 billion dollars by the end of last April

The foreign reserve of the Central Bank fell to 37 billion dollars by the end of last April



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