CBE: reserve money (MO) grows by 8.2%, recording EGP1.83tn by end of May 2024
First Bank
The latest Monthly data of the Central Bank of Egypt revealed a growth of 8.15% in reserve money (MO), reaching EGP 1.827 tn by the end of May 2024. This marks an increase of EGP 137.6 bn compared to EGP 1.689 tn at the end of December 2023.
The reserves, denoted as "MO," consist of bank deposits in local currency and circulating cash outside the central bank's vaults, according to the Egyptian Central Bank's data.
Bank deposits in local currency reaching EGP 553.1 bn by the end of May 2024, compared to EGP 543.6 bn at the end of 2023 with a growth rate of 1.75% and an increase EGP9.5bn.
Furthermore, circulating cash outside the central bank's reached EGP 1274 tn by the end of May 2024, rising from EGP 1.146 bn at the end of 2023. This represents a growth rate of 11.18%, and an increase of EGP 128.1 bn.
