The net foreign assets of the banking sector and the Central Bank of Egypt (CBE) increased by about $102.14 million at the end of June of this year, to reach nearly $15.976 billion, compared to $15.874 billion in May 2021.
Net foreign assets
Net foreign assets (NFA) refer to the value of overseas assets owned by a nation, minus the value of its domestic assets that are owned by foreigners.
CBE's net foreign assets amounted to about $39.674 billion at the end of June, compared to $39.521 billion, while the banks NFA recorded about $21.869 billion at the end of June, compared to $21.484 billion.
The foreign assets of the banking sector amounted to about $61.544 billion at the end of June, compared to $61.005 billion, a month earlier, an increase of about $538.56 billion, according to CBE Statistics.
Foreign exchange Liabilities
Foreign exchange Liabilities is the aggregate of all liabilities of the issuer consisting of loans, deposits, claims or other liabilities.
CBE's foreign exchange liabilities amounted to about $25.418 billion at the end of June, compared to $25.397 billion at the end of May, while all other banks foreign liabilities amounted to about $20.150 billion at the end of June, compared to $19.734 billion.
The total foreign exchange liabilities of the banking sector amounted to about $45.563 billion at the end of June, compared to $45.131 billion, a month earlier.
On the other hand, total deposits in local currency in the banking sector, excluding the government, recorded an increase of EGP 103.617 billion to reach EGP 4.036 trillion at the end of June, compared to EGP 3.932 trillion in May.
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