CBE: Egypt's domestic liquidity rises to LE 4.11T by end of December

CAIRO - 26 February 2020: The Central Bank of Egypt (CBE) has announced that Egypt's domestic liquidity rose by LE 246.9 billion to register LE 4.11 trillion, with an increase of 6.4 percent in July-December of the 2019/2020 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 202 billion at a rate of 6.9 percent and the rise in money supply by LE 44.9 billion at a rate of 4.9 percent.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by LE 261.5 billion at an average of 11.8 percent, and the decrease of deposits in foreign currency by LE 59.5 billion at a rate of 8.3 percent, the report added.

The report attributed the increase in money supply to the rise in current deposits in local currency by LE 25 billion, at an average of 5.7 percent.