By: Heba El-Kordy
Cairo – Mubasher: Total foreign-currency deposits held by the Egyptian banking sector rose in March for the first time in 10 months from a more than two-year low in February.
Foreign deposits increased to EGP 639.131 billion ($40.71 billion) in March from EGP 627.659 billion ($39.98 billion) a month earlier, according to official data.
Year-on-year, foreign deposits declined by 14% from EGP 741.6 billion ($47.23 billion) in March 2019.
Egypt’s net international reserves went down by $5.4 billion month-on-month to $40.1 billion in March.
