Egypt’s Foreign Reserves Fall to Lowest Level Since 2007 After Uprising - Bloomberg

Egypt’s net international reserves fell for a third month in March to the lowest level in more than three years as the economy suffers from the unrest that toppled President Hosni Mubarak.

Reserves fell to $30.1 billion, the lowest since September 2007, from $33.3 billion in the previous month, according to provisional data on the central bank’s website.

Mubarak resigned on Feb. 11, bowing to mass protests that demanded the end of his rule. The country’s worst political crisis in three decades caused tourists to flee and companies to cut output. Concern over a possible run on the currency prompted the central bank to buy pounds Feb. 8, though the bank hasn’t said whether it repeated the action since then.