Egypt foreign reserves fall to $14.42bn in July

CAIRO: Egypt's foreign reserves fell to $14.42 billion in July from $15.53 billion in June, resuming a steep decline that began last year when a popular uprising sent the economy into a tailspin, according to central bank figures.

Reserves have plunged by more than half since Egypt's political turmoil scared away tourists and investors, two of Egypt's main sources of foreign currency.