CBE: Egypt's domestic liquidity rises to LE 4.353T by end of April

CAIRO - 15 June 2020: The Central Bank of Egypt (CBE) has announced that Egypt's domestic liquidity rose by LE 489.4 billion to register LE 4.353 trillion, with an increase of 12.7 percent in July-April 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 356.9 billion at a rate of 12.1 percent and the rise in money supply by LE 132.5 billion at a rate of 14.4 percent.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by LE 430 billion at an average of 19.3 percent, and the decrease of deposits in foreign currency by LE 73.1 billion at a rate of 10.2 percent, the report added.

The report attributed the increase in money supply to the rise in current deposits in local currency by LE 38.3 billion, at an average rate of 8.8 percent.