Cairo – Mubasher: Egypt’s domestic liquidity rose by 17.8% year-on-year to EGP 3.49 trillion at the end of July, from EGP 2.94 trillion.

On a monthly basis, liquidity increased slightly last July, compared to EGP 3.45 trillion in June, data by the Central Bank of Egypt (CBE) showed.

Foreign reserves of the North African nation rose to $44.31 billion at the end of July.

The CBE previously posted that Egypt’s foreign reserves amounted to $36 billion prior to the 25th January revolution as the US dollar sources contracted, mainly foreign direct investment (FDI) and tourism.

Deposits in foreign currencies rose to EGP 716.9 billion at the end of June, versus EGP 694.2 billion in the same period last year, according to data.