Egypt’s net foreign assets in the banking sector rose in October by approximately $1.87 billion, reaching $22.65 billion.
According to data from the Central Bank of Egypt, the increase was supported by a rise in net foreign assets of $700 million at the Central Bank and about $1.17 billion at commercial banks. Net foreign assets at the Central Bank reached $11.7 billion, while commercial banks recorded roughly $10.9 billion.
Egypt’s net foreign assets increased due to a rise in total assets by $2.3 billion and an increase in liabilities by around $402 million. Foreign-currency assets reached $92.36 billion, while liabilities amounted to $69.7 billion.
