Egypt’s reserve money M0 hits EGP1.905t in October – CBE

Egypt’s reserve money (M0) rose to 1.905 trillion Egyptian pounds at the end of October 2024, according to data released by the Central Bank of Egypt (CBE) on Thursday.

Earlier, M0 stood at 1.897 trillion pounds at the end of September 2024.

M0 comprises currency in circulation outside the Central Bank of Egypt (CBE) vaults besides banks’ deposits in local currency. It is a key indicator of monetary policy. The increase in M0 suggests that the CBE is taking steps to manage liquidity in the economy.

The CBE reported that currency in circulation outside its vaults was approximately 1.255 trillion pounds at the end of October 2024, compared to 1.260 trillion pounds at the end of September 2024. Meanwhile, banks’ deposits in Egyptian pounds increased to 649.944 billion pounds in October, up from 637.119 billion pounds in September.

Meanwhile, banks’ deposits in Egyptian pound stood at 649.944 billion pounds in October, up from 637.119 billion pounds in September.

Below is the breakdown of the two components of reserve money as of October 31, 2024.

Total Reserve money is 1.905 trillion Egyptian pounds  

Attribution: CBE