Egypt's net foreign assets fell by $3.53 billion for the second consecutive month in August, after hitting a two-and-a-half-year high in May, data from the Central Bank of Egypt showed.
Net foreign assets fell to 473.2 billion Egyptian pounds in August from 644.8 billion Egyptian pounds at the end of July, or $9.72 billion at the end of August and $13.25 billion at the end of July, according to Reuters calculations based on the central bank's official exchange rate at the time.
Foreign assets fell sharply at commercial banks in August but rose slightly at the central bank, but foreign maturities remained relatively stable at commercial banks and the central bank.
