Cairo – Mubasher: Total foreign-currency deposits at Egyptian banks rose for the third month in a row by 9.4% year-on-year in December.
Deposits increased to EGP 743.5 billion last December, versus EGP 679 billion in the same month of 2017, data by the Central Bank of Egypt (CBE) showed.
Month-on-month, deposits in foreign currencies rose slightly at the end of December from around EGP 735.12 billion in November 2018, the CBE highlighted.
In January, the CBE stated that Egypt’s foreign reserves fell by $1.962 billion or 4.4% month-on-month in December.
The North African country’s net foreign reserves recorded $42.55 billion at the end of December, versus $44.51 billion in November, the CBE posted on its official website.
