CBE: Cash supply grows by 24.3%, reaching EGP2.16 tn by Sep-2023 end

The latest monthly data from the Egyptian Central Bank reveals a 24.30% increase in cash supply during the first 9 months of this year, reaching approximately EGP2.162 tn by the end of September 2023, compared to EGP1.74 tn by the end of December 2022, an increase of EGP 422.8 bn.

On a monthly basis, it increased by 0.68% in September, totaling EGP2.162 tn by the end of September 2023, compared to EGP2.148 tn by the end of the previous August, a rise of 14.6 EGP bn.

Cash supply is the primary tool through which CBE influences inflation rates. A rise and rapid growth in cash supply enhance overall demand and consequently inflation, while a decrease in cash supply or a decline in its growth helps control overall demand and relative price levels.

Domestic liquidity in the Egyptian banking sector increased by 15.51% during the first 9 months of this year, reaching EGP 8.551 tn by the end of September 2023, compared to EGP7.403 tn by the end of 2022, an increase of EGP1.148 tn.

Note: The aforementioned figures and growth rates are based on monthly data released on the official website of the Egyptian Central Bank.