The net foreign assets of the banking sector declined in August

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The net foreign assets of the banking sector fell last August to 158.7 billion pounds, equivalent to 10.1 billion dollars, compared to 245.2 billion pounds in July, equivalent to 15.67 billion dollars.

The average exchange rate at the end of August recorded 15.69 pounds, which is the same average at the end of July.

Central Bank data revealed that the decline was driven by the decline in its net foreign assets as a result of the rise in foreign liabilities concurrent with the stability of its foreign assets. .

The decline in the net foreign assets of commercial banks, not matched by a significant decline in foreign liabilities, also contributed to the decrease in the balance at the banking sector level.

The deficit of net foreign assets at banks increased to 69.7 billion pounds, equivalent to 4.4 billion dollars, compared to a deficit of 25.6 billion pounds, equivalent to 1.63 billion dollars in July, as a result of the decline in assets to 248.8 billion pounds at the end of August, compared to 295.5 billion pounds at the end of July, while obligations decreased to 318.3 billion pounds, compared to 321 billion pounds in July.

The article, the net foreign assets of the banking sector declined in August, was written in Al Borsa newspaper.