The euro declined against the Egyptian pound on Sunday at the close of trading at several local banks operating in the Egyptian banking market, compared to its levels at the end of last week's trading.
The euro at the Central Bank of Egypt recorded EGP 56.83 to buy and EGP 57.00 to sell, while the U.S. dollar recorded EGP 50.53 to buy and EGP 50.67 to sell.
Household sector deposits in foreign currencies amounted to EGP 204.001 billion in demand deposits and approximately EGP 1.641 trillion in time deposits and savings certificates.
On an aggregate level, total foreign currency deposits rose to EGP 3.074 trillion by the end of March 2025, compared to EGP 3.037 trillion by the end of February of the same year.
The current account deficit increased to approximately $11.1 billion during the first half of fiscal year 2024/25 (compared to $9.6 billion in the previous period). This increase is primarily attributed to a 4.4% widening of the trade deficit to approximately $27.5 billion, and a 21.2% decline in the services surplus to approximately $7.2 billion.
Total tourism revenues increased by 12.4% to approximately $8.7 billion (compared to approximately $7.8 billion), driven by an increase in the number of tourist nights, which reached approximately 93.5 million nights (compared to 83.2 million nights), according to the Balance of Payments Report issued by the Central Bank of Egypt.
Total foreign direct investment in Egypt amounted to approximately $6 billion by the end of December 2024, compared to approximately $5.5 billion, according to data from the Balance of Payments Report issued by the Central Bank.
Source: Bloomberg
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