CBE hard currency reserve will increase next month

An official of the Central Bank of Egypt (CBE) asserted on 29/4/2012 that the hard currency reserve with the CBE will increase next month by $1.7 billion.

Saudi Arabia has transferred one billion dollars to be deposited at the CBE and $75 million as dollar bonds at treasury.

The source added that the currency reserve of the CBE increased also by $408 million; the value of Iraqi "yellow remittances".