Liquidity hikes LE 800B, near money rises LE 700B in March

CAIRO – 6 August 2017: Local liquidity hiked LE 800 billion ($45 billion) year-on-year to LE 2.7 trillion in March 2017 from LE 1.9 trillion, Central Agency for Public Mobilization and Statistics (CAPMAS) said Sunday.

The monetary supply leveled up to LE 631 billion in March 2017 compared to LE 529.8 billion in the same period of the previous year.

Near money also increased by LE 700 billion to LE 2.1 trillion in March 2017 compared to LE 1.4 trillion in March 2016, CAPMAS July’s bulletin reported.

Near money or quasi-money are the high-liquid non-cash assets, including bank deposits, Certificates of Deposit (CDs) and Treasury Bills. The term refers to the assets that can be quickly converted into cash.

The total value of deposits in the Egyptian banking system registered LE 2.9 billion, according to the Central Bank of Egypt (CBE).

The volume of market liquidity was recorded as LE 2.7 trillion at the end of April, marking a LE 690 billion increase from July 2016 to April 2017.