Pound's liquidity, near money jumps LE 778B, LE 664B in April

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Mon, 04 Sep 2017 - 11:24 GMT

 Egyptian pound- Reuters

Egyptian pound- Reuters

CAIRO – 4 September 2017: Local liquidity jumped LE 778 billion ($43.9 billion) in April to record LE 2.78 trillion, compared to LE 2 trillion in April 2016, Egypt’s statistics body announced Monday.

The monetary supply leveled up to LE 654.2 billion in April 2017 compared to LE 540.2 billion in the same period of the previous year, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in its August bulletin.

Near money also increased by LE 664 billion to LE 2.13 trillion in April 2017 compared to LE 1.466 trillion in April 2016, CAPMAS July’s bulletin reported.

The term near money or quasi-money is the high-liquid non-cash assets, including bank deposits, Certificates of Deposit (CDs) and Treasury Bills. It refers to the assets that can be quickly converted into cash.

As for March, local liquidity in the market hiked LE 800 billion year-on-year to LE 2.7 trillion in March 2017 from LE 1.9 trillion. The monetary supply also soared to LE 631 billion in March 2017 compared to LE 529.8 billion in the same period of the previous year.

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