Cairo – Mubasher: The Central Bank of Egypt’s (CBE) deposits in foreign currencies rose by 20% year-on-year in December to EGP 679 billion from EGP 656.6 billion, the CBE said in a statement on Thursday.
Meanwhile, deposits in local currency doubled to EGP 2.11 billion in December 2017, from EGP 1.6 billion the same period a year earlier, data showed.
Given that Egypt’s foreign reserves surged to $37.019 billion at the end of December from $36.723 billion a month earlier, the central bank announced on Wednesday.
