Egypt's net foreign assets fell by $3.53 billion for the second straight month in August, data from the Central Bank of Egypt (CBE) showed on Thursday, after hitting a two-and-a-half-year high in May.
Net foreign assets fell to EGP 473.2 billion ($9.72 billion) in August from EGP 644.8 billion ($13.25 billion) at the end of July, based on the central bank's official exchange rate.
The central bank's data showed that money supply rose 29.59% year-on-year in September to EGP 11.081 trillion, compared to EGP 8.551 trillion in the same month a year earlier.
Follow the latest news on Google News
