CBE: EGP 1.48 Trillion Cash Reserves at End of February 2023

The cash reserves balance declined to EGP 1.48 trillion by the end of last February, compared to EGP 1.52 trillion in the previous January and around EGP 1.5 trillion in December 2022.

According to a recent report issued by the Egyptian Central Bank, the total circulating cash outside its treasury reached EGP 868.51 billion in February last year, compared to EGP 864.2 billion in January of the same year and EGP 886.22 billion in December 2022.

The report stated that bank deposits in local currency at the Central Bank recorded about EGP 609.6 billion in February last year, compared to EGP 661.814 billion in January 2023 and EGP 610.1 billion in the previous December.

The report also mentioned that net foreign assets incurred a deficit of EGP 280.722 billion in February last year, compared to a deficit of EGP 260.9 billion in January 2023 and a deficit of EGP 205.14 billion at the end of the previous year.

Local assets reached EGP 1.76 trillion in February last year, compared to EGP 1.8 trillion in January and EGP 1.701 trillion in December.

These assets include government claims amounting to EGP 1.244 trillion in February last year, compared to EGP 1.203 trillion in the previous January and EGP 1.12 trillion in the previous December.

Net claims from banks within the local assets amounted to around EGP 17.935 billion in the previous February, compared to EGP 33.7 billion in January and EGP 94.8 billion.