Egypt foreign reserves rise to $16.736b at end-July

Egypt’s foreign reserves rose to $16.736 billion (Dh61.4 billion) at the end of July from $16.687 billion in June, the central bank said on Thursday.

Reserves fell sharply after a 2011 uprising that ousted President Hosni Mubarak but rose last year when Gulf Arab states gave billions of dollars of aid after the army deposed elected Islamist President Mohammad Mursi.