Egypt’s domestic liquidity rises 3.2% in three months: c.bank

Egypt’s domestic liquidity jumped 3.2 percent to 3.563 trillion pounds during the July-October 2018 period of the financial year 2018/2019, said the Central Bank of Egypt (CBE) in a report on Thursday.

The report stated that the increase in domestic liquidity was reflected in the growth of quasi-money that went up by 100.5 billion pounds, at a rate of 3.8 percent, and the rise in money supply by 8.6 billion pounds, at a rate of 1 percent.

The surge in quasi-money came as a result of a surge in non-current deposits in local currency by 83.2 billion pounds, at an average of 4.3 percent, as well as in deposits in foreign currency by 17.3 billion pounds, at a rate of 2.4 percent, the report added.

The CBE report attributed the hike in money supply to the rise in current deposits in local currency by 6.7 billion pounds, at an average of 1.8 percent.

Source: MENA