Egypt’s net foreign assets increased by $4.02 billion in January to reach a record $29.54 billion, according to data released Monday by the Central Bank of Egypt, and reported by Reuters.
The rise reflects continued dollar inflows from Gulf investments, a 2024 currency devaluation, and strong remittances from Egyptians working abroad.
Remittances climbed to a record $4.0 billion in December, bringing total inflows for the whole of 2025 to $41.5 billion, compared with $29.6 billion in 2024. Data for January remittances has not yet been published.
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The central bank’s figures show that commercial banks’ foreign assets rose by about $1.67 billion during January, while foreign assets held by the central bank remained nearly unchanged.
At the same time, net foreign liabilities declined at both commercial banks and the central bank.
Net foreign assets, which combine holdings at the central bank and commercial banks, had fallen into negative territory in February 2022 as the central bank intervened to support the Egyptian currency against the U.S. dollar.
They returned to positive levels only in May 2024, following a sharp currency devaluation in March 2024.
The latest figures mark the highest level of net foreign assets on record, highlighting improved foreign currency liquidity in the banking system.
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Image Credit: Asharq Al-Awsat
