By: Ahmed Ammar

Cairo – Mubasher: Household foreign-currency deposits at banks operating in the Egyptian market retreated at the end of March for the second time since the beginning of 2019, according to official data released by the Central Bank of Egypt (CBE). 

Household deposits in foreign currency amounted to EGP 497.66 billion in March, compared to EGP 502.8 billion in February, EGP 502.3 billion in January, and EGP 502.3 billion in December 2018, the CBE added.

On the other hand, household deposits in local currency rose to EGP 2.1 trillion in March, compared to EGP 2 trillion in February.

Total deposits held by banks in Egypt totalled EGP 3.93 trillion in March; of which 634.09 billion in governmental deposits and EGP 3.29 trillion in non-governmental deposits.

Meanwhile, private-sector deposits in foreign currency declined to EGP 203.61 billion in March, compared to EGP 204.6 billion in February, EGP 198.73 billion in January, and EGP 199.4 billion in December 2018.

Moreover, private-sector deposits in local currency grew to EGP 368.3 billion in March, up from EGP 356.94 billion in February and EGP 350.43 billion in January.

Translated by: Zeinab Adel