Cairo - Mubasher: Total foreign currency deposits held by the Egyptian banking sector declined for the third month in a row to EGP 644.505 billion in September ($41.18 billion), compared to EGP 656.003 billion ($41.91 billion) in August.
On an annual basis, the foreign deposits in the Egyptian banking sector decreased by 6% year-on-year (YoY) in September from EGP 686.428 billion ($43.86 billion) during the same month of 2019.
Meanwhile, the country's foreign reserves rose by EGP 795 million to EGP 39.22 billion by the end of October 2020.
It is noteworthy to mention that on 12 May, Egypt has received a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).
