(Adds c.bank official reserves announcement)
CAIRO, April 3 Egypt's foreign reserves rose to
$28.5 billion by the end of March, the highest level since March
2011, a cabinet statement and the central bank said on Monday.
The cabinet statement also said Egypt had attracted $17
billion of foreign currency inflows since the flotation of the
pound in November. The Central Bank allocated $23 billion to
finance foreign trade in the same period, the statement added.
The country had roughly $36 billion in reserves before an
uprising in 2011 ushered in a period of political turmoil,
scaring away tourists and foreign investors, key sources of hard
The central bank floated the Egyptian pound in November as
part of an economic reform programme. The move helped Egypt
clinch a $12 billion, three-year loan from the International
(Reporting by Dominic Evans; Editing by Eric Knecht)