The central bank's total foreign currency assets increased slightly by about $140 million in October to a total of $34.1 billion, compared to about $34 billion in September.
Recent central bank data showed a deficit of $27.1 billion in October, up 1.2 percent month-on-month according to the official market exchange rate of the pound against the dollar. The number of banks operating in Egypt is 38, including 9 government banks, and the National Bank of Egypt, Banque Misr and Banque du Caire are among the largest.
The increase in net asset deficit came due to the increase in foreign currency obligations of the Central Bank by about $ 960 million during the month of October, bringing the total to about $ 45.42 billion, compared to about $ 44.46 billion last September.
Source (Al-Arab Newspaper of London, Edited)
