Egypt's domestic liquidity rises to LE 3.724T by end of March

CAIRO - 24 June 2019: The Central Bank of Egypt (CBE) said in a report on Monday that Egypt's domestic liquidity increased by LE 270.4 billion to register LE 3.724 trillion, at a rise of 7.8 percent in July-March of the 2018/2019 fiscal year (FY).

The report stated that the increase in domestic liquidity was reflected in the growth of quasi-money that went up by LE 228.4 billion at a rate of 8.7 percent and the rise in the money supply by LE 42 billion, at a rate of 5.1 percent.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by LE 203.7 billion, at an average of 10.6 percent and in deposits in foreign currency by LE 24.7 billion, at a rate of 3.4 percent, the report added.

The report attributed the increase in the money supply to the rise in current deposits in local currency by LE 29.9 billion, at an average of 7.8 percent.