Back to the complete issue
Sunday, 7 March 2021

Foreign reserves inch up c. USD 100 mn in February

The nation’s foreign currency reserves rose nearly USD 100 mn in February, ending the month at USD 40.2 bn, according to central bank figures. Foreign reserves had increased USD 38.2 mn in January, after shooting up by almost USD 800 mn in December 2020 to their highest level since last April. Foreign reserves had dropped by almost USD 10 bn during the height of the covid-19-driven market panic last year, and are still short of their February 2020 USD 45.5 bn high.

CATCH UP QUICK-

  • Internet service providers are now required to send out notifications to their customers when data usage hits 50%, 75%, and 100% under new guidelines from the National Telecom Regulatory Authority.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.