Domestic liquidity grows by 5.67%, reaches EGP 7.822 tn by February-2023end

First bank

6/1/2023 11:13:11 AM

The latest monthly bulletin from the central bank of Egypt revealed an increase in local liquidity(domestic liquidity) in the Egyptian banking sector by 5.67%, reaching EGP 7.822 tn by the end of February 2023, compared to EGP 7.402 tn by the end of December 2022. The value of the increase reached EGP 420.07 bn.

Local liquidity consists of the money supply and near money. Under the money supply category, it includes currency in circulation outside the banking system and current deposits in local currency. Near money includes non-current deposits in both local and foreign currencies, as well as current deposits in foreign currency.

Regarding the money supply category, it recorded EGP 1.695 tn by the end of February 2023, compared to EGP 1.739 tn by the end of December 2022. Currency in circulation outside the banking sector reached EGP 812.661 bn by the end of February 2023, compared to EGP 831.226 bn by the end of December 2022.

Current deposits in local currency reached EGP 882.775 bn by the end of February 2023, compared to EGP 908.396 bn by the end of December 2022.

Near money increased by an annual growth rate of 8.20%, reaching EGP 6.127 tn by the end of February 2023, compared to EGP 5.663 tn by the end of December 2022, with an increase of EGP 464.256 bn.

As for non-current deposits in local currency, they increased by a growth rate of 3.61% and an increase of EGP 162.510 bn on an annual basis, reaching EGP 4.665 tn by the end of February 2023, compared to EGP 4.503 tn by the end of December 2022.

Current deposits in foreign currency jumped by 24.28% on an annual basis, reaching a value of EGP 385.082 bn by the end of February 2023, compared to EGP 309.862 bn by the end of December 2022, with an increase of EGP 75.220 bn.

As for non-current deposits in foreign currencies, they increased by 26.64%, reaching EGP 1.076 tn by the end of February 2023, compared to EGP 850.217 bn by the end of December 2022, with an increase of EGP 226.526 bn.