CBE: Egypt's domestic liquidity rises to EGP 4.024 trillion by end of October

CAIRO, Jan 1 (MENA) - The Central Bank of Egypt (CBE) said in a report on Wednesday that Egypt's domestic liquidity increased by EGP 160.4 billion to register EGP 4.024 trillion at an increase rate of 4.2% in July-October of the 2019/2020 fiscal year (FY).

The report stated that the increase in domestic liquidity was reflected in the growth of quasi-money that went up by EGP 130.5 billion at a rate of 4.4% and the rise in the money supply by EGP 29.9 billion at a rate of 3.2%.

The surge in quasi-money came as a result of the rise in non-current deposits in local currency by EGP 176 billion at an average of 7.9%, and the decrease of deposits in foreign currency by EGP 45.5 billion at a rate of 6.4%, the report added.

The report attributed the increase in the money supply to the rise in current deposits in local currency by EGP 15.4 billion, at an average of 3.5%.