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Egypt's central bank: reserves at "critical" level

 An Egyptian anti-riot soldier stands under a banner showing Muslim Brotherhood leader Mohammed Badie and barbed wire near the presidential palace in ...
 An Egyptian police officer laughs with protesters as he secures a road leading to the Shura Council during a speech by President Mohammed Morsi in Ca...
 An Egyptian woman shouts anti-Mohammed Morsi slogans as soldiers block a road leading to the Shura Council where the president addressed the upper ho...
 Egyptian women shout anti-Mohammed Morsi slogans during a protest in Tahrir Square, the focal point of Egyptian uprising, in Cairo, Egypt, Saturday, ...

Mideast Egypt

An Egyptian anti-riot soldier stands under a banner showing Muslim Brotherhood leader Mohammed Badie and barbed wire near the presidential palace in ...

Mideast Egypt

An Egyptian police officer laughs with protesters as he secures a road leading to the Shura Council during a speech by President Mohammed Morsi in Ca...

Mideast Egypt

An Egyptian woman shouts anti-Mohammed Morsi slogans as soldiers block a road leading to the Shura Council where the president addressed the upper ho...

Mideast Egypt

Egyptian women shout anti-Mohammed Morsi slogans during a protest in Tahrir Square, the focal point of Egyptian uprising, in Cairo, Egypt, Saturday, ...

The Central Bank of Egypt says the country's foreign currency reserves are at a "critical" minimum level.
The bank says reserves are at the minimum level needed to pay Egypt's international obligations. It did not give a current figure. In statistics from November, the reserves stood at $15 billion, less than half what they were before last year's uprising, even with help of deposits from Qatar.
The bank said in a statement Saturday that it has introduced a new auction system for buying and selling U.S. dollars after a rush by Egyptians to sell the pound in exchange for dollars over concerns of devaluation.
Reserves have tumbled since foreign investment dried up amid the country's turmoil the past two years. Much of the reserves have gone toward propping up the currency.