Egypt's Net International Reserves (NIR) fell by around $84 million in March to $13.42 billion, the Central Bank of Egypt (CBE) announced on Thursday.
The reserves have plunged by more than half since the January 2011 uprising when they stood at around $36 billion.
Egyptian Planning Minister Ashraf El-Araby stated from Dubai on Tuesday that the government aimed to up reserves to $16 billion by the end of the current fiscal year in June, significantly lower than a previously announced target of $19 billion, according to Reuters.
Last week an Egyptian delegation went to Iraq seeking a $4 billion deposit in the CBE. The request was rejected by Baghdad as "too risky." Talks are continuing over a smaller deposit.
