CBE: Foreign currency deposits jump by 30.69%, reaching EGP1.516 tn at H1-2023 end

According to the latest monthly data released on the central bank's website, total bank deposits in foreign currencies (CBE) surged by 30.69%, reaching EGP 1.516 tn by the end of June 2023. This is compared to the equivalent of EGP1.160 tn recorded at the end of 2022, marking an increase of EGP356.073 bn.

Foreign currency deposits were divided into demand deposits, time deposits, and savings certificates. Demand deposits in foreign currencies reached the equivalent of EGP386.227 bn at the end of the first half of 2023, compared to the equivalent of EGP309.862 bn at the end of 2022, showing a growth rate of 24.64% and an increase of EGP76.365 bn.

Demand deposits in foreign currencies were further divided into deposits from the public sector, which amounted to EGP 16.795 bn, deposits from the private sector, totaling EGP256.616 bn, and deposits from the family sector, totaling EGP112.965 bn, all at the end of June 2023.

Furthermore, time deposits and savings certificates in foreign currencies reached the equivalent of EGP 1.129 tn at the end of June 2023, compared to the equivalent of EGP850.217 bn at the end of 2022, showing a growth rate of 32.90% and an increase of EGP279.708 bn.

The value of demand deposits in foreign currencies for the public sector amounted to approximately EGP74.073 bn, EGP251.118 bn for the private sector, and around EGP804.734 bn for the Household sector.