Egypt’s reserve money ‘M Zero’ hits EGP 1.683t by March-end

Egypt’s reserve money (M Zero) reached 1.683 trillion Egyptian pounds at the end of March 2024, down from 1.689 trillion pounds at the end of December 2023, the Federation of the Egyptian Banks (FEB) reported on Thursday.

The M0 consists of currency in circulation outside the Central Bank of Egypt (CBE) vaults as well as banks’ deposits in local currency.

The Egyptian central bank uses the M0 as an intermediate operating target for its monetary policy in managing local liquidity.

Total M0 reserve money is 1.683 trillion Egyptian pounds