By: Islam Fadl
Cairo – Mubasher: Balances of Egyptian banks abroad reached $18.9 billion by the end of August, the Central Bank of Egypt’s (CBE) governor Tarek Amer said.
The Egyptian banking sector aims to increase such balances in the coming period, Amer added during the 43rd session of the Council of the Arab Central Banks Governors and Arab Monetary Associations on Sunday.
It is noteworthy that by the end of July, foreign holdings of Egyptian debt instruments amounted to $20.1 billion, board member of the CBE Fakhry El Fekki previously revealed.
The North African nation’s foreign cash reserves rose by $565 million month-on-month to $44.916 billion in July from $44.351 billion, data released by the CBE showed.
