Egyptian bank foreign assets hit new high
Reaching its highest level since 2020, the net foreign assets of Egyptian banks, including the Central Bank, increased by $2.72 billion in August, representing a 9.5% rise, bringing the total to approximately $31.14 billion. This increase was supported by an improved value of the Egyptian pound against the dollar and foreign investor inflows into government debt instruments, such as treasury bills. The net assets of commercial banks grew by 13.1% during the month, while the net assets of the Central Bank of Egypt increased by 5.4%.
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