CBE: Market Liquidity Surge by EGP 862 Billion Year-on-Year

The local liquidity in the banking sector surged to EGP 5.030 trillion by the end of February 2021, compared to EGP EGP 4.168 trillion, year-on-year, with an increase of EGP 862 billion on an annual basis, according to the Central Bank of Egypt (CBE).

CBE revealed that the money supply recorded EGP 1.146 trillion by the end of February 2021, compared to EGP 1.003 trillion, year-on-year, with an increase of EGP 143.7 billion.

Cash circulated outside the banking system recorded EGP 619.3 billion by the end of February 2021 compared to EGP 521.3 billion a year earlier, up EGP 98.04 billion.

Also, current deposits in local currency recorded about EGP 527.5 billion, quasi-money about EGP 3.833 trillion, non-current deposits in local currency about EGP 3.234 trillion, and current and non-current deposits in foreign currencies recorded EGP 649.03 billion by the end of February.

Net foreign assets scored about EGP 325.5 billion, and net domestic assets scored about EGP 4.704 trillion, while local credit recorded  EGP 5.056 trillion by the end of February.