Egypt’s domestic liquidity grows to EGP 5.134 trillion in Q1

Egypt’s domestic liquidity rose to 5.134 trillion Egyptian pounds ($327.7 billion) in the first quarter of the year from 4.920 trillion pounds at the end of 2020.

The increase in domestic liquidity was reflected in the growth of the country’s money supply to 1.189 trillion pounds at the end of March from 1.143 trillion pounds at the end of December and the quasi-money to 3.945 trillion pounds from 3.777 trillion pounds.

However, banking deposits, in foreign currencies, in Egyptian banks witnessed a decline by the end of March to record the equivalent of EGP 644.4 million ($41.1 million), down from EGP 649.8 million in January and EGP 666.6 billion by end of FY2019/2020, the Central Bank of Egypt (CBE) announced.