Egypt's domestic liquidity rises to LE4.011T by end of September: CBE

CAIRO - 17 December 2019: The Central Bank of Egypt (CBE) said in a report on Tuesday that Egypt's domestic liquidity increased by LE 148.2 billion to register LE 4.011 trillion at an increase of 3.8 percent in July-September of the 2019/2020 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 115.6 billion at a rate of 3.9 percent and the rise in the money supply by LE 32.6 billion at a rate of 3.5 percent.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by LE 143.8 billion at an average of 6.5 percent, and the decrease of deposits in foreign currency by LE 28.2 billion at a rate of 3.9 percent, the report added.

The report attributed the increase in the money supply to the rise in current deposits in local currency by LE 20.5 billion, at an average of 4.7 percent.