Egypt’s banking sector net foreign assets fell by about $586 million in August to $17.89 billion, compared to $18.5 billion in July.
According to data from the Central Bank of Egypt, foreign assets of the banking sector fell by around $581 million, while external liabilities rose by about $5 million. Net surpluses at Egyptian commercial banks declined by about $761 million to $38.76 billion. Meanwhile, the Central Bank of Egypt’s surplus increased by $139 million to $10.63 billion.
The Central Bank of Egypt had revealed earlier that the country’s net international reserves rose to $49.25 billion by the end of August. Egypt’s foreign currency reserves increased by about $214 million during the same month.
