CBE: Domestic liquidity rises to EGP 9.12 tn by February- 2024end
First Bank
The latest monthly statistical bulletin of the Central Bank of Egypt, issued a little while ago on the official website of the bank, revealed an increase in domestic liquidity by a growth rate of 2.97%, to record EGP9.125 tn by the end of February 2024, compared to EGP8.878 tn at the end of 2023, with an increase of EGP247.3bn.
Domestic liquidity consists of cash and near-money supply, categorized under cash supply; circulating cash outside the banking system and current deposits in the local currency.
Meanwhile, cash supply includes non-current deposits in both local and foreign currencies Examining the cash supply category, it increased to EGP2.529 tn by the end of February 2024, compared to EGP2.370 tn by the end of December 2023, with a growth rate of 6.70%, and an increase of EGP158.83bn during the first 2 months of 2024.
Currency in circulation outside the banking sector rose to EGP1.105tn by the end of February 2024, up from EGP1.069bn by the end of December 2023, with a growth rate of 3.37% and an increase of EGP36bn.
Current deposits in the local currency reached EGP1.424 tn by the end of February 2024, compared to EGP1.301 tn by the end of December 2023, showing a growth rate of 9.44% and an increase of EGP122.84bn.
As for near-money, it increased from EGP6.507tn by the end of December 2023 to EGP6.596 tn by the end of February 2024, with a growth rate of 1.36% and an increase of EGP88.46bn.
Non-current deposits in the local currency rose to EGP5.024tn by the end of February 2024, compared to EGP4.946tn by the end of December 2023, with a growth rate of 1.57% and an increase of EGP77.85 bn.
Current deposits in foreign currencies grew by 8.67%, with an increase of EGP32.87 bn, reaching the equivalent of EGP412.03bn by the end of February 2024, compared to the equivalent of EGP397.16bn by the end of December 2023.
Non-current deposits in foreign currencies fell to EGP1.160 tn by the end of February 2024 , compared to the equivalent of EGP1.182 tn by the end of December 2023.
