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Egypt Banks Gain Foreign Assets | Egypt News
Egypt’s banking sector strengthened its global financial position in July, with net foreign assets rising to $28.4 billion — a modest but meaningful gain signaling growing international resilience. The pound’s depreciation against the dollar (from 49 to over 51 EGP per USD) amplified the dollar value of those assets, even as it made foreign currency more expensive locally. While both foreign assets and liabilities rose, the net figure remained positive, reflecting healthy external balance. Domestically, overall liquidity surged, suggesting increased money flow through banks and the economy —…
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