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Monday, 21 October 2019

Egypt's domestic liquidity up 7.8 percent in 9 months

MENA , Monday 24 Jun 2019
File Photo: Central Bank of Egypt's headquarters is seen in downtown Cairo (Photo: Reuters)
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Views: 1786

Egypt's domestic liquidity increased by 7.8 percent in the first three quarters of the 2018/2019 fiscal year, increasing by EGP 270.4 billion to reach EGP 3.724 trillion, the Central Bank of Egypt said in a report on Monday.

The report stated that the increase in domestic liquidity was reflected in the growth of quasi-money, which increased 8.7 percent to EGP 228.4 billion, and the rise in the money supply of 5.1 percent, an increase of EGP 42 billion.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by EGP 203.7 billion, and in deposits in foreign currency by EGP 24.7 billion, the report added.

Current deposits in local currency increased by EGP 29.9 billion.



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