Cairo – Mubasher: Egypt’s net foreign reserves rose to $17.01 billion by the end of April 2016, said the Central Bank of Egypt.

The foreign reserves stood at $16.651 billion by the end of March, versus $16.533 billion in February and $16.477 billion in January.

Accordingly, Egypt’s net foreign reserves reached “the highest since August after the country’s cash savings grew” according to Bloomberg

U.S dollar rate is officially exchanged at EGP8.88, while nearing EGP10 per dollar in the black market.

Before the January 25 Revolution in 2011, foreign reserves retreated from levels nearing $36 billion to $17.01 billion in April 2016.