An increase in hard currency reserves

The reserves of hard currency in the Central Bank of Egypt (CBE) made a rise by $298 million in May as compared to April.

The total volume of the hard currency reserves amounted to $14 billion and 764 million in May compared to $14 billion and 466 million in April, the CBE statement reported.

The hard currency reserves of May are considered as the second highest reserves after June 2000 when the reserves amounted to $15 billion and 130 million while in August the reserves recorded the lowest level as it amounted to $13 billion and 921 million.