Egypt announces an increase in foreign assets deficit ...Egypt

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Egypt announces an increase in foreign assets deficit
source : EGYPT INDEPENDENT ( Egypt ) () 15
The Central Bank of Egypt announced that the net foreign assets deficit in the banking sector increased by about fiv percent in August, on a monthly basis, to reach negative LE385.8 billion, according to the latest updates in the current period. According to the data of the CBE, net foreign assets in the banking sector began to decline with the beginning of the Russian-Ukrainian war. Egyptian banks’ foreign currency commitments increased by seven percent in August, on a monthly basis, to LE 523.7 billion, while the foreign currency assets of these banks declined by two percent during the same period to about LE 292.5 billion. Earlier, the CBE of Egypt revealed that the total deposits in loca

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