🇪🇬EgyptNorth Africa
Egypt's net foreign assets decline by $6.1 billion in March, driven by commercial banks
via Egypt Today1 min read
Egypt's banking sector experienced a $6.1 billion decline in net foreign assets during March, falling to $21.3 billion from $27.4 billion in February. Commercial banks were the primary contributors to this decrease, with their net foreign assets dropping by nearly $5.9 billion. The Central Bank of Egypt's net foreign assets also saw a slight reduction of approximately $130 million. This decline was influenced by a $3.6 billion decrease in commercial banks' foreign assets held abroad, which fell to $39.4 billion. Concurrently, banks' foreign currency liabilities increased by about $2.4 billion, reaching $33.6 billion by the end of March. Net foreign assets are a crucial indicator of foreign exchange liquidity and the banking sector's ability to meet its external obligations.
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This summary was AI-generated from a story originally published by Egypt Today.
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Al-Arish Airport has received an aid shipment from the United Arab Emirates destined for Gaza. This event occurred on Thursday, May 7, 2026.