Egypt's net foreign assets climb by $2 billion in December

Egypt's net foreign assets (NFAs) improved by 47.28 billion Egyptian pounds in December, marking a second month of increases after it allowed its currency to depreciate sharply in October, central bank data showed.

NFAs improved to a negative 494.3 billion Egyptian pounds from a negative 541.5 billion in November.

This works out to an improvement of about $2.06 billion using end-of-month central bank exchange rates, according to Reuters calculations.