date:Apr 15, 2013
y low levels below the $15 billion needed to cover three months worth of imports. At the end of March, the reserves stood at $13.4 billion.
DEPRECIATING POUND
At official rates, the currency has lost a tenth of its value since the beginning of foreign exchange rationing. The central bank has been holding three auctions per week, selling $40 million at each.
Shortages of imported fuel are disrupting transport and leading to power cuts. Egypt, the world's biggest importer of wheat, has also cut