Egypt’s foreign reserves decreased by 1.76bn of their value in September, reaching 16.334bn, compared to 18.096bn in August, the Central Bank of Egypt (CBE) announced on Wednesday.
The decline is the third consecutively in foreign currency levels, as the international reserves went down from 20.08bn in June to 18.5 in July, then to 18.096 in August, to record their lowest level in September.
International foreign reserves have recorded their highest level this year in April, when they registered 20.525bn, according to the CBE.
The current foreign reserves cover Egypt’s commodity imports for 3.3 months.
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