CBE: Newly Issued Banknotes Record EGP 660 Billion 

The Central Bank of Egypt (CBE) announced in its latest report on Tuesday that the newly issued cash has increased to EGP 659.40 billion by the end of January 2021, compared to about EGP 649.944 billion by the end of December.

The central bank is bound by the rules for printing cash, and no cash printing process is carried out without a cover, and the printing operations are carried out according to a periodic plan approved by the central bank for each fiscal year.

The volume of issued "printed banknotes" is affected, up or down, according to the processes of replacing the damaged and dilapidated money, in addition to the market needs of "cash", as well as the needs of the economy.

The ratio of issued cash to GDP was about 11.20% at the end of January, compared to 11.04% at the end of December 2020.

The issued cash in the 200-pound denomination recorded about EGP 428.704 billion, and the 100-pound about EGP 176.810 billion.

Whereas, the issued cash from the 50-pound category amounted to about EGP 318.07 billion, and the 20-pound denomination of EGP 8.568 billion.

On the other hand, net foreign assets (NFA), which is the value of the assets that country owns abroad, minus the value of the domestic assets owned by foreigners, increased to reach EGP 274.59 billion by the end of January 2021, compared to EGP 270.980 billion in December.

Foreign assets and liabilities were pided into EGP 211.552 billion in the central bank, and EGP 63.041 billion in banks. CBE's Foreign assets recorded about EGP 617.574 billion and foreign liabilities about EGP 406.022 billion.

Bank foreign assets amounted to about EGP 355.664 billion, and foreign liabilities amounted to EGP 292.623 billion.