Egypt's domestic liquidity exceeds EGP 4 trillion for the first time in its history.
According to data available at the Central Bank of Egypt (CBE), Liquidity continued to rise in September, surpassing the EGP 4 trillion mark for the first time, an increase of 15% compared to EGP 3.5 trillion in the same period last year.
On a monthly basis, domestic liquidity rose in September 2019 by about 2 percent, compared to EGP 3.92 trillion pounds by the end of August.
Domestic liquidity is the amount of cash and cash-equivalent securities circulating within a country's economy. This may include time and demand deposits along with currency circulating outside banks.
According to the data, the money supply amounted to about 956.2 billion pounds in September 2019, compared to 946.7 billion pounds in August.
The money supply is the total value of money available in an economy at a point of time. There are several ways to define "money", but standard measures usually include currency in circulation and demand deposits.
On September 26, 2019, the Central Bank of Egypt (CBE) decided to reduce the overnight deposit, lending, and main operation rates by 100 basis points to 13.25%, 14.25% and 13.75% respectively.
CBE data showed that foreign currency reserves rose to $ 45.117 billion at the end of September, up from $ 44.969 billion in August.
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