Masress : $1.44bn increase in foreign reserves to $44.06bn end-February: CBE

Egypt's SCZone posts record EGP 11.6b revenue in FY24/25 Egypt to begin second phase of universal health insurance in Minya Madrid trade talks focus on TikTok as US and China seek agreement Egypt hosts 4th African Trade Ministers' Retreat to accelerate AfCFTA implementation Egypt's Investment Minister, World Bank discuss strengthening partnership El Hamra Port emerges as regional energy hub attracting foreign investment: Petroleum Minister Power of Proximity: How Egyptian University Students Fall in Love with Their Schools Via Social Media Influencers Egypt wins Aga Khan Award for Architecture for Esna revival project Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire EHA launches national telemedicine platform with support from Egyptian doctors abroad Egypt's Foreign Minister, Pakistani counterpart meet in Doha Egypt condemns terrorist attack in northwest Pakistan Emergency summit in Doha as Gaza toll rises, Israel targets Qatar Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects Egyptian pound ends week lower against US dollar – CBE Egypt hosts G20 meeting for 1st time outside member states Lebanese Prime Minister visits Egypt's Grand Egyptian Museum Egypt to tighten waste rules, cut rice straw fees to curb pollution Egypt seeks Indian expertise to boost pharmaceutical industry Egypt prepares unified stance ahead of COP30 in Brazil Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures Egyptian, Ugandan Presidents open business forum to boost trade Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken' Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance Egypt's Sisi, Uganda's Museveni discuss boosting ties Egypt, Huawei explore healthcare digital transformation cooperation Greco-Roman rock-cut tombs unearthed in Egypt's Aswan Egypt reveals heritage e-training portal Sisi launches new support initiative for families of war, terrorism victims Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary Germany among EU's priciest labour markets – official data Paris Olympic gold '24 medals hit record value A minute of silence for Egyptian sports Russia says it's in sync with US, China, Pakistan on Taliban It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights Sudan says countries must cooperate on vaccines Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19 Egypt to tax bloggers, YouTubers Egypt's FM asserts importance of stability in Libya, holding elections as scheduled We mustn't lose touch: Muller after Bayern win in Bundesliga Egypt records 36 new deaths from Covid-19, highest since mid June Egypt sells $3 bln US-dollar dominated eurobonds Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform

Thank you for reporting!

This image will be automatically disabled when it gets reported by several people.

$1.44bn increase in foreign reserves to $44.06bn end-February: CBE

Hossam Mounir Published in Daily News Egypt on 04 - 03 - 2019

The foreign exchange reserves at the CBE have increased by $1.44bn by the end of February 2019, reaching $44.06bn, compared to $42.617bn by end of January 2019.
The foreign exchange reserves recorded an all-time high by the end of November 2019, when they reached $44.51bn.
The CBE has not revealed the reason behind the increase in reserves in February.
Moreover, the CBE revealed last week an increase in net foreign assets in the Egyptian banking sector in January 2019 for the first time, after a wave of decline that lasted for six months.
The CBE's data showed that the total foreign assets in the sector recorded about EGP 981.86bn by the end of January, an equivalent of $55.45bn, compared to EGP 950.55bn, an equivalent of $52.93bn, by the end of December, with a $2.52bn increase.
The data explained that the total dues in the foreign currency in the CBE and the banking sector recorded EGP 832.36bn, an equivalent of $47.014bn by end of January, compared to EGP 823.15bn, an equivalent of $45.84bn by end of December, with a $1.2bn increase.
The report showed that foreign assets in the CBE recorded a limited decline in January, reaching $41.52bn, compared to $41.55bn by end of December.
Furthermore, the dues in foreign currencies have increased in the CBE, reaching $28.65bn by the end of January, compared to $28.08bn by the end of December, which is a $578m increase.
The net foreign assets in the CBE recorded $12.87bn by end of January, compared to $13.47bn by the end of December.
According to the CBE, the deficit of net foreign assets in banks have declined for the second month in a row, recording $4.42bn, compared to $6.37bn.
The CBE attributed the decline to an improvement in foreign assets in banks, to record $13.92bn compared to $11.38bn, while the dues have increased to $18.355bn, compared to $17.76bn.
The support that foreign assets in banks received in January came as a result of an increase in foreign investments in debt instruments, to record an increase of nearly $2.49bn, reaching $13.20bn, compared to $10.70bn by the end of December.

Clic here to read the story from its source.