Egypt’s M2 money supply up 40.48% year-on year in October: CBE

Egypt’s M2 money supply was up 40.48 percent at the end of October from a year earlier, central bank data showed on Wednesday.

Money supply stood at 3.09 trillion Egyptian pounds ($173.91 billion), the bank said.

The growth rate of M2, which includes foreign currency deposits, has been inflated as a result of Egypt devaluing its currency in November 2016.

Source: Reuters