
EGPC sets exchange rate for repayment of foreign partners at EGP 17 per US dollar
Large part of the bill paid in Egyptian pounds, says source
Large part of the bill paid in Egyptian pounds, says source
Governor also downplays negative effects on foreign currency reserves
Extension of Borollos fields project delayed until early 2016, claims official
Egypt’s foreign currency reserves, which stood at $36bn before autocrat Hosni Mubarak was ousted in 2011, have been under pressure ever since and fell to $17.8bn in November from $18.6bn in October.