Cairo – Mubasher: Local-currency deposits at Egyptian banks grew by EGP 27.83 billion month-on-month in May 2019.
Deposits denominated in local currency increased to EGP 2.585 trillion at the end of the fifth month of 2019, compared to EGP 2.557 trillion a month earlier, data released by the Central Bank of Egypt (CBE) revealed.
Year-on-year, local-currency deposits went up 14.94% from EGP 2.249 trillion at the end of May 2018.
It is noteworthy that foreign currency reserves of the North African nation amounted to $44.351 billion at the end of June, compared to $44.275 billion in the previous month.
