Egypt’s money supply M0 nears EGP 2 trillion – CBE data
Egypt’s money supply, as measured by reserve money (M0), experienced a significant increase at the end of July 2024. Data released by the Central Bank of Egypt (CBE) on Thursday showed that M0 climbed to 1.992 trillion Egyptian pounds by the end of July 2024, up from 1.689 trillion pounds at the end of December 2023.
The M0 consists of currency in circulation outside the Central Bank of Egypt (CBE) vaults in addition to banks’ deposits in local currency. The CBE uses the M0 as an intermediate operating target for its monetary policy in managing local liquidity.
According to the CBE, currency in circulation outside the Egyptian central bank also inched up to around 1.290 trillion pounds at the end of July 2024 from 1.145 trillion pounds at the end of December 2023.
Banks’ deposits in Egyptian pound stood at 701.478 billion pounds in May, much higher from 543.557 billion pounds in April.
Following is the size of the two components of reserve money as of 31 July 2024.
Total Reserve money is 1.827 trillion Egyptian pounds
| Reserve Money Components | Figures in EGP billion |
| (i) Currency in Circulation | 1290682 |
| (ii) Banks’ deposits in local currency with CBE | 701478 |
| Total Reserve Money (i+ii) | 1992160 |
Attribution: Central Bank of Egypt (CBE) data
