Egypt banks’ domestic liquidity rose to 2.920 trillion pounds in June –

Big 5

The Egyptian banking system’s local-currency liquidity surged in June than in the previous month, recording 2.920 trillion Egyptian pounds ($165.3 billion), a central bank recent report read.

In May, liquidity stood at 2.849 trillion pounds.

The rise in domestic liquidity was reflected in the growth of the money supply to 709.3 billion pounds in June, from 684.3 billion pounds in May, backed by the increase in the quasi money to 2.210 trillion pounds, the central bank added.

Domestic liquidity represented around 90 percent of the country’s GDP, the report showed.