Egypt’s domestic liquidity surges to EGP 7.737 in January

Egypt’s domestic liquidity increased by 335 billion Egyptian pounds to reach 7.737 trillion pounds ($252,6 million) at the end of January 2023, up from 7.402 trillion pounds at the end of December 2022, central bank’s statistical figures revealed on Wednesday.

The increase in domestic liquidity was reflected in the growth of the country’s money supply to 1.739 trillion pounds at the end of December 2022 and the cash circulating outside the banking system recorded 797.112 billion pounds.

The demand deposits in local currency amounted to 872.685 billion pounds, compared to 908.395 billion pounds, while quasi-money recorded 6.067 trillion pounds, the report added.

The report clarified that the time deposits in local currency amounted to 4.628 trillion pounds, compared to 4.450 trillion pounds by the end of 2022.

However, demand deposits in foreign currencies amounted to 1.438 trillion pounds, compared to 1.1600 trillion pounds at the end of December 2022.