Egypt's foreign reserves fell by about two billion dollars in June


Egypt's foreign reserves fell by about two billion dollars in June



Egypt's foreign reserves declined last June by about two billion dollars, which is a decline for the second month in a row.


Data from the Central Bank of Egypt issued on Thursday showed that Egypt's foreign reserves recorded 33.376 billion dollars at the end of June, compared to 35.495 billion dollars at the end of May.


The reserves at the end of June include about $26.02 billion in foreign currency balances, $7.314 billion in gold balances and $50 million in special drawing rights.


According to central bank data, Egypt's foreign reserves have fallen by about $7.6 billion since the beginning of this year, from $40.98 billion at the end of January to $33.376 billion at the end of June.


Egypt entered into negotiations with the International Monetary Fund to implement a new program that includes financial financing.

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