Egypt’s domestic liquidity rises 7.8% in nine months – c.bank

Egypt’s domestic liquidity rose 7.8 percent during the first three quarters of financial year 2018/2019, increasing by 270.4 billion pounds to reach 3.724 trillion pounds, the Central Bank of Egypt said in a report on Monday.

The report stated that the increase in domestic liquidity was reflected in the growth of quasi-money, which increased 8.7 percent to 228.4 billion pounds, and the rise in the money supply of 5.1 percent, an increase of 42 billion pounds.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by 203.7 billion pounds, and in deposits in foreign currency by 24.7 billion pounds, the report added.

Current deposits in local currency increased by 29.9 billion pounds.

Source: MENA