Egypt’s local liquidity hits EGP 11.341t in Nov: CBE

Egypt’s banking sector saw a significant rise in local liquidity, growing by 2.464 trillion Egyptian pounds over the first 11 months of 2024, according to the latest data from the central bank.

By the end of November 2024, total local liquidity (M2) reached 11.341 trillion pounds, up from 8.877 trillion pounds in December 2023.

The money supply (M1), which reflects the total amount of currency circulating within the economy, stood at 2.775 trillion pounds by the end of November 2024, up from 2.334 trillion pounds at the end of November 2023.

Additionally, currency in circulation outside the banking system rose to 1.142 trillion by November 2024, from 1.062 trillion pounds in November 2023.

Demand deposits in local currency recorded 1.632 trillion pounds, up from 1.272 trillion pounds, while quasi-money—the term for savings deposits and other near-money assets—totaled 8.566 trillion pounds.

Attribution: Amwal Al Ghad English