Cairo – Mubasher: Egyptian pound-denominated deposits at Egypt-based banks increased by 15% year-on-year in December, recording EGP 2.44 trillion from EGP 2.11 trillion.
Month-on-month, deposits rose slightly from around EGP 2.4 trillion at the end of November, data by the Central Bank of Egypt (CBE) showed.
On Sunday, the CBE stated that Egypt’s domestic liquidity rose slightly last December to EGP 3.62 trillion, versus EGP 3.58 trillion in November 2018.
Year-on-year, domestic liquidity increased 13%, versus EGP 3.2 trillion in December 2017.
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.
