CAIRO, Oct. 2 (Xinhua) -- The Central Bank of Egypt (CBE) said Monday its foreign currency reserves rose by 391 million U.S. dollars in September to stand at 36.53 billion dollars.
In a statement, the CBE said cash reserves stood at 36.14 billion dollars in August.
Egypt's foreign reserves have been going up since the country started a strict three-year reform program that included floating the local currency in November.
The program is encouraged by a 12-billion-dollar loan from the International Monetary Fund.
Egypt has been suffering economic recession over the past few years of political instability and relevant security issues that led to the decline of tourism, foreign currency reserves and foreign investments.
