Cairo – Egypt’s domestic liquidity jumped by 19.8% or EGP 1.059 trillion during the period from July to April of fiscal year (FY) 2021/2022 to reach EGP 6.41 trillion, the Middle East News Agency (MENA) said, citing a report by the Central Bank of Egypt (CBE).
The hike in local liquidity was reflected in higher quasi-money by 20.4% or EGP 836.3 billion and higher money supply by 17.8% or EGP 223.3 billion.
The rise in quasi-money was helped by an increase in non-current deposits in local currency by 19.1% or EGP 659.5 billion, coupled with higher deposits in foreign currency by 27.2% or EGP 176.8 billion.
Furthermore, the growth in money supply was ascribed to a hike in current deposits in local currency by 20.9% or EGP 121.4 billion, and an increase of cash in circulation outside the banking system by 15.1% to EGP 101.9 billion.
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