Egypt's domestic liquidity hits new record in June
Year-on-year, local liquidity rose by 17.5%
Image used for illustrative purpose. Cairo Skyline along Nile River. The bridge, the Nile river & the Corniche Street in central Cairo.
By Staff Writer, Mubasher
Cairo – Local liquidity in Egypt continued its upward trend, growing by 1.9% or EGP 87 billion month-on-month (MoM) to a historic level of EGP 4.538 trillion in June from EGP 4.451 trillion in May, official data showed.
Year-on-year (YoY), local liquidity rose by 17.5% from EGP 3.86 trillion in June 2019, according to data released by the Central Bank of Egypt (CBE).
On the other and, the money supply retreated to EGP 1.084 trillion in June from EGP 1.095 trillion a month earlier.
It is worth mentioning that Egypt’s net international reserves increased by $2.2 billion to $38.201 billion at the end of June from $36.003 billion in May.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.