Cairo – Mubasher: Foreign-currency deposits held by the Egyptian banking sector increased for the second successive month amid the coronavirus (COVID-19) crisis after a 10-month declining streak.

Egypt’s deposits denominated in foreign currencies rose to EGP 640.676 billion ($40.36 billion) in April from EGP 639.131 billion ($40.26 billion) a month earlier, official data showed.

Year-on-year (YoY), foreign-currency deposits grew by 13.6% from EGP 741.7 billion ($46.72 billion) in April 2019.