Cairo – Mubasher: The Central Bank of Egypt (CBE) posted that total bank deposits rose by EGP 27 billion month-on-month in July 2017.
Total deposits reached EGP 3.07 trillion at the end of July 2017, versus EGP 3.04 trillion in June 2017, the CBE highlighted in a statement.
Government deposits in local currency amounted to EGP 393.7 billion in July from EGP 312.4 billion in June.
Meanwhile, deposits in foreign currencies totalled EGP 126.6 billion in July, compared to EGP 210.8 billion in June, according to the statement.
The statement indicated that total deposits excluding the CBE’s deposits stood at EGP 3.05 trillion in July, versus EGP 3.027 trillion in June.
The CBE raised reserves requirement for banks from 10% to 14 on 10 October 2017.
Egypt’s net international reserves rose by $391 million at the end of September 2017 to $36.535 billion in September from $36.143 billion in August.
