Egypt's deposits in local currency increase to LE 4T by end of June

CAIRO – 1 August 2021: The Central Bank of Egypt’s (CBE) data showed that total deposits in local currency rose to LE 4.036 trillion by the end of June 2021, compared to LE 3.932 trillion last May.

CBE said in the data published on its website that demand deposits rose by about LE 34 billion to record LE 585.309 billion at the end of June 2021, compared to LE 551.398 billion at the end of last May.

The data also showed an increase in domestic liquidity to LE 5.360 trillion by the end of June 2021, compared to LE 5.257 trillion last May.
 

According to the data, domestic liquidity rose, supported by the increase in the money supply, to record LE 1.258 trillion at the end of June, compared to LE 1.226 trillion at the end of last May, marking an increase of about LE 32 billion.

The money supply circulating outside the banking system recorded LE 673.336 billion at the end of June, compared to LE 675.039 billion at the end of May.

The Central Bank of Egypt said that the local liquidity, M2, rose by LE 72.6 billion during last May, to reach LE 5.256 trillion, compared to LE 5.184 trillion last April.

It added, in recent data published on his website, that the M1 money supply rose during the month of May, by LE 29.574 billion, to reach LE 1.226 trillion, compared to LE 1.196 trillion in the previous month.

CBE stated that cash in circulation outside the banking sector rose LE 28.582 billion in May to LE 675.039 billion, compared to LE 646.457 billion at the end of April 2021.

It explained that current deposits in the local currency rose slightly last May, to reach the level of LE 551.398 billion, compared to LE 550.406 billion.

The Central Bank stated that quasi-money hiked by LE 43.051 billion in May, to reach LE 4.030 trillion, compared to LE 3.987 trillion in the prior month.

Quasi money consists of non-current deposits in local currency, current deposits in foreign currencies, and non-current deposits in foreign currencies.

Non-current deposits in local currency increased by LE 52.782 billion last May, to reach LE 3.381 trillion, compared to LE 3.328 trillion in April.