An employee counts money at an exchange office in downtown Cairo (Photo credit: Reuters/Amr Abdallah Dalsh)
CAIRO - 21 March 2022: The Central Bank of Egypt (CBE) has announced that domestic liquidity rose by LE 466 billion to register LE 5.7822 trillion, with an increase of 7.2 percent in July-December of the 2021/2022 fiscal year.
In its report released on Sunday, the CBE stated that the increase in domestic liquidity was reflected in the growth of quasi-money that went up by LE 338.9 billion at a rate of 8.3 percent and the rise in money supply by LE 127.1 billion at a rate of 10.1 percent.
The surge in quasi-money came as a result of the rise in non-current deposits in local currency by LE 338.2 billion at an average of 9.8 percent, and the decrease of deposits in foreign currency by LE 0.7 billion at a rate of 0.1 percent, the report added.
The report attributed the increase in money supply to the rise in current deposits in local currency by LE 679.9 billion, at an average rate of 13.3 percent.