Data from the Central Bank of Egypt showed that deposits of banks operating in the Egyptian local market recorded a record level estimated at 6.191 trillion pounds at the end of last October, compared to 5.374 trillion pounds at the end of February 2021, an increase of Its value is 817 billion pounds, or about 15.2 percent.
The Central Bank of Egypt revealed that net foreign exchange reserves rose to the level of 40.935 billion dollars at the end of last December, compared to 40.909 billion dollars at the end of November of last year, an increase of about 26 million dollars.
The strong rise in deposits is directly due to the stagnation in the market due to the repercussions of the Corona virus, which caused the collapse of all investment activities globally. Noting that foreign investors have pumped about $970 million since the beginning of the year until January 16 this year in financial investments, including long-term bonds and treasury bills.
Source (Al-Arabiya.net Website, Edited)
