By: Eslam Fadl
Cairo – Mubasher: Egypt’s gold exports dropped 67.3% year-on-year or $290.6 million during the first quarter of fiscal year 2018/2019, data by the Central Bank of Egypt (CBE) showed.
The North African nation’s exports of the precious metal valued at $141.3 million in the period starting July to September, versus $431.9 million in the same period of the previous fiscal year, according to the CBE’s monthly bulletin.
The country’s total exports of commodities rose by 16.2% in Q1-18/19 to $6.785 billion, versus $5.89 billion in the corresponding period of FY17/18, the CBE said.
It is worth noting that total foreign-currency deposits at Egyptian banks rose by 7.2% year-on-year in January to EGP 741.3 billion, versus EGP 691.2 billion.
Month-on-month, deposits in foreign currencies fell slightly at the end of January from around EGP 743.5 billion in December 2018, according to the CBE.
The CBE also stated that Egypt’s domestic liquidity rose slightly at the end of January to EGP 3.64 trillion, versus EGP 3.62 trillion in December 2018.
Year-on-year, domestic liquidity increased by 12%, versus EGP 3.25 trillion in January 2018.
Translated by: Mai Ezz El-Din
