CBE: Cash supply grows by 34.22%, reaching EGP2.33 tn by November-2023 end

The latest monthly data from the Egyptian Central Bank reveals a 34.22% increase in cash supply by November 2023 end, reaching approximately EGP2.33 tn by the end of September 2023, compared to EGP1.74 tn by the end of December 2022, an increase of EGP 595.31 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 18.70% during the first 11 months of last year, reaching EGP 8.787 tn by the end of November 2023, compared to EGP7.40 tn by the end of 2022, an increase of EGP1.384 tn.

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