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Cairo – Assets and reserves of Egyptian banks abroad recorded $19 billion in July, compared to $16 billion in June, an official source at the Central Bank of Egypt (CBE) revealed, according to the Middle East News Agency (MENA).
Egyptian banks’ reserves abroad include $17.7 billion deposits and $1.3 billion current accounts, MENA revealed.
The growth in Egyptian banks’ reserves and assets reflect the success of the country’s monetary policy and the positive results of its economic reform programme.
Source: Mubasher
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