Non-governmental foreign currency deposits in Egyptian banks rose by more than $4 billion during the first eight months of this year, reaching $54.6 billion by the end of last August, compared to $50.5 billion by the end of December 2023, according to the latest data from the Central Bank of Egypt.
The data showed that Egyptian banks received foreign savings worth $ 800 million in August alone, bringing foreign currency deposit balances from $ 53.8 billion in July to $ 54.6 billion in August.
In its monthly report, the Central Bank of Egypt revealed that the volume of demand deposits in foreign currencies increased marginally to reach $ 13.07 billion by the end of August, compared to $ 12.92 billion, while the volume of time deposits and savings certificates rose to $ 41.5 billion at the end of August, compared to $ 40.8 billion at the end of the previous July.
