Egypt says foreign reserves rise to $17.011 bln at end-April

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CAIRO (Reuters) – Egypt’s net foreign reserves rose to $17.011 billion at the end of April, the central bank said on Wednesday.

Reserves stood at $16.561 billion at the end of March.

Egypt had roughly $36 billion in reserves before an uprising in 2011 overthrew Hosni Mubarak and ushered in a period of political turmoil that scared away tourists and foreign investors, key sources of foreign exchange.

Last month the United Arab Emirates pledged $4 billion to Egypt, half in investments and the rest as a central bank deposit to support cash reserves.

 

(Reporting by Asma Alsharif; editing by John Stonestreet)

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