Egypt’s domestic liquidity M2 rises to EGP 12.57t in March – CBE

Egypt’s domestic liquidity (M2) climbed to 12.566 trillion Egyptian pounds ($248.013 billion) by the end of March, up from 12.218 trillion pounds in February, according to data released by the Central Bank of Egypt (CBE).

The broad money supply (M1) rose to 3.209 trillion pounds in March from 3.054 trillion pounds a month earlier, driven in part by an increase in currency in circulation outside the banking system, which reached 1.296 trillion pounds, compared to 1.197 trillion in February.

Demand deposits in local currency also edged higher to 1.912 trillion pounds from 1.857 trillion pounds. Meanwhile, quasi-money – which includes time and savings deposits – grew to 9.357 trillion pounds, up from 9.163 trillion in February.

The continued expansion in liquidity underscores robust banking activity and sustained momentum in Egypt’s financial sector.

Attribution: Amwal Al Ghad English