Foreign currency deposits at Egyptian banks hit EGP 2.531T end-June: CBE
Updated 8/6/2024 7:18:00 AM
Arab Finance: Total deposits in foreign currency at Egyptian banks increased to EGP 2.531 trillion at the end of June, compared to EGP 1.516 trillion in June 2023, according to data by the Central Bank of Egypt (CBE).
This increase in foreign currency deposits during June marks the highest in 2024.
The data also showed that time and saving deposits for both the public and private business sectors grew to EGP 1.914 trillion last June from EGP 1.129 trillion.
As for deposits in local currency, they stood at EGP 6.863 trillion at the end of June, up from EGP 5.722 trillion end-June 2023.
On July 7th, the CBE announced that Egypt’s net international reserves (NIR) rose to $46.384 billion at the end of June.
It was previously reported that remittances from Egyptians working abroad jumped 73.8% year-on-year to nearly $2.7 billion in May.
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