CBE: Domestic liquidity hit LE 5.6T by end of October 2021

CAIRO - 19 January 2022:  The Central Bank of Egypt (CBE) has announced that domestic liquidity rose by LE 295.3 billion to register LE 5.651 trillion, with an increase of 5.5 percent in July-October of the 2021/2022 fiscal year.

In its report released Tuesday, the CBE stated that the increase in domestic liquidity was reflected in the growth of quasi-money that went up by LE 204.4 billion at a rate of 5 percent and the rise in money supply by LE 90.9 billion at a rate of 7.2 percent.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by LE 205.2 billion at an average of 5.9 percent, and the decrease of deposits in foreign currency by LE 0.8 billion at a rate of 0.1 percent, the report added.

The report attributed the increase in money supply to the rise in current deposits in local currency by LE 70.3 billion, at an average rate of 12.1 percent.