Egypt’s net foreign assets positive for sixth straight month in October

Egypt’s net foreign assets (NFAs) rose to 520.121 billion Egyptian pounds in October, remaining positive for a sixth straight month, central bank data showed on Thursday.

NFAs at the Central Bank of Egypt (CBE) serve as a crucial measure of financial stability and resilience, illustrating the balance between the central bank’s foreign currency assets and liabilities.

In May 2024, the CBE reported a shift from a deficit to a surplus in net foreign assets, the first positive change since March 2022.

By the end of May 2024, net foreign assets showed a surplus of 458.630 billion pounds, compared to a deficit of 36.070 billion pounds at the end of April.

Attribution: CBE