Egypt's domestic liquidity in banking sector hikes to LE 5.57T by end of September

CAIRO – 2 November 2021: The Central Bank of Egypt (CBE) announced that the volume of domestic liquidity in the banking sector increased by LE 86.2 billion, to LE 5.575 trillion at the end of September 2021, compared to LE 5.489 trillion at the end of August 2021.

The CBE’s monthly report revealed that the money supply recorded LE 1.330 trillion at the end of September 2021, compared to LE 1.307 trillion at the end of August, with an increase of about LE 22.9 billion.

The total deposits in local currency in the banking sector other than the government recorded an increase of LE 85.7 billion, to reach LE 4.239 trillion at the end of September 2021, compared to LE 4.153 trillion at the end of August 2021.

The data of the monthly bulletin issued by the Central Bank showed an increase in total deposits in local currency with banks operating in the Egyptian market, other than government deposits, to record about LE 4.239 trillion at the end of September 2021, compared to about LE 4.153 trillion at the end of August 2021, and the foreign assets of the banking sector recorded about $56.962 billion at the end of September 2021, compared to $55.366 billion at the end of August 2021.

The report indicated that the total foreign assets of the Central Bank amounted to $39.783 billion at the end of September 2021, compared to $39.579 billion compared to the end of August 2021, while the net foreign assets of banks recorded $17.179 billion, compared to $15.787 billion, and the cash in circulation outside the banking system amounted to about LE 693.109 billion at the end of September 2021, compared to about LE 691.5 billion at the end of August 20121.